Dealflow | November 6, 2023

Women-led Almouneer raises $3.6 million for diabetes care in Egypt

Lucy Ngige
Guest Author

Lucy Ngige

ImpactAlpha, November 6 – In Africa and the Middle East, 40% of adults are obese and/or are diabetic or pre-diabetic. Egypt’s Almouneer offers digital tools for health clinics to connect diabetes and obesity patients with doctors and helps them monitor their conditions.

The company serves about 120,000 patients.

It raised a $3.6 million seed round, led by Global Ventures, a women-led, Dubai-based venture capital firm. France’s Proparco and Digital Africa’s Bridge Fund also participated.

Separately, Bangalore-based raised $11 million in a round led by MassMutual Ventures to help patients with diabetes and prediabetes management. The two-year-old company, which offers continuous blood sugar-level monitoring, works with about 25,000 patients.