LAHORE: Healthtech startup Oladoc on Friday claimed to have raised a $1.8 million investment in a pre-Series A round, as the healthtech sector sees a surge in venture funding.
According to a statement, the investment round, which was led by Pakistan’s Sarmayacar Ventures along with participation from Doha Tech Angels and other angel investors, was closed in the last quarter of 2021. Today’s announcement is the official confirmation of the funding.
According to Crunchbase data, oladoc raised $1.1 million in seed funding in 2018, and $200,000 in pre-seed funding in 2016, which brings the total raised by the startup to $3 million.
Founded in 2016 by Abid and Arif Zuberi, oladoc is one of the prominent doctor booking platforms, which now also connects patients with doctors for video consultation sessions. The healthtech startup has also introduced lab test booking on the app.
Healthtech space in Pakistan is ripe for disruption. With a population of 221 million, Pakistan currently has one doctor to every 1,300 Pakistanis, ranking 115 globally while a meager 1.2 per cent of the GDP is spent on healthcare by the government.
Most of the people lack access to qualified doctors and the problem grew during the pandemic when access to a doctor was further restricted due to lockdowns. The pandemic also provided an opportunity for healthtech companies to scale and the adoption of healthcare apps picked up during the pandemic.
Healthtech startups raised $15.4 million during the foregone...
Read Full Story: https://profit.pakistantoday.com.pk/2022/01/14/oladoc-announces-1-8m-raise-to-scale-healthcare-platform/
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