A group of investors led by Middle East Venture Partners (MEVP), Algebra Ventures, and Global Ventures has invested in Yodawy’s Series B round. The Cairo-based online pharmacy has raised a total of $7.5 million from the group, which included CVentures, Athaal Angel Investors Group, and P1 Ventures. Valuation and other terms of the investment have not been made available.
The 3-year-old business will use the capital to expand and diversify its offering and enter new markets. The business has already integrated 3,000 pharmacies with its platform, struck deals with 8 health insurance providers, and fulfilled 800,000 orders for clients since its founding. One of its key selling points is that patients using Yodawy’s platform receive their medications and/or personal care products within 45 minutes of placing their orders.
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