Uganda’s Rocket Health secures $5m Series A round to promote East African expansion
Rocket Health, a telemedicine and last-mile healthcare provider based in Uganda, has closed a $5 million Series A funding round to accelerate its technology roadmap and geographical expansion into Uganda and Kenya.
Rocket Health, which was founded in 2012, is Uganda’s leading telemedicine provider, providing an end-to-end healthcare experience to over 25,000 individual patients. The startup’s solution makes use of technology to provide four integrated services: 24-hour teleconsultations, medication delivery, home sample collection for laboratory diagnostic testing, and physical specialist clinic consultations.
Creadev, an evergreen investment fund backed by the Mulliez family of French entrepreneurs, led Rocket Health’s $5 million Series A. Creadev is joined in the round by existing early-stage African investors Grenfell Holdings and LoftyInc Capital Management.
The funds will be used to expand further across Uganda and into Kenya by the startup.
“Through the exponential power of technology, Rocket Health is on a mission to make quality primary healthcare accessible, affordable, and convenient for as many Africans as possible,” said Dr Davis Musinguzi, Rocket Health’s founder and CEO.
“We are overjoyed that Creadev and the Mulliez family’s investment thesis resonates so strongly with the Rocket Health founding team’s timeless vision.” Together, we will create a sustainable digital healthcare value chain all the way down to the last mile in Africa.”
Creadev Africa’s Pierre Fauvet and Sarah Ngamau expressed their delight at collaborating with Rocket Health on its mission to make healthcare accessible to the many in Sub-Saharan Africa.
“We have been blown away by the Rocket Health team’s creativity, tenacity, and vibrant culture, which has a bold vision for the future of African primary care.” There are numerous opportunities, ranging from data analytics to novel distribution channels. “We look forward to bringing our experience in retail, e-commerce, logistics, and digital health to Davis and his team as they revolutionize access to healthcare in Africa,” they said.
