This archive report was first published on 18 August 2019.
On August 18, 2019, Nairobi-based healthcare diagnostics company Ilara Health secured Sh75.8 million in seed funding from local and foreign venture capital firms to support its local expansion.
Founded in 2018, Ilara Health sources tech-powered diagnostic equipment at affordable prices for use in identifying diseases by medical clinics.
Under its business model, doctors pay a deposit to use the equipment and then pay off the remaining cost in installments determined by usage.
The new funding will enable Ilara Health to grow its medical clinic customers in Kenya, with the ultimate goal of expanding beyond the country.
According to the company, the investment will also be used to build a flexible technology platform to manage and protect valuable patient health and clinic financial data.
The funding round was backed by Nairobi-based Shaka VC, Chandaria Capital, the venture capital arm of Chandaria Industries, Villgro Kenya, and several angel investors, including Esther Dyson, Nijhad Jamal, Aadil Mamujee, Selma Ribica, and Shakir Merali.
Ilara Health's founders include Emilian Popa, a former managing director at Rocket Internet, Amaan Banwait, a former general manager of UK diagnostics start-up Werlabs, Hannes Eckmayr, a former sales executive of Kenyan off-grid solar company Pawame, and Dr. Matiko Riro, a Kenyan doctor and former consultant to the World Bank and Lancet Labs.
