Nigerian health startup Healthlane has secured US$2.4 million in investment led by British based Venture Capital fund Digital Horizon.
Participting investors in the round include Sequoia Capital, Silicon Valley Bank, TSVC, Supernode Ventures, CRE Africa, Capitoria, as well as several early investors in Ping An Good Doctor.
Founded by Alain Nteff, Healthlane is a Y Combinator alumnus healthcare startup that focuses on online consultations for local and remote patients, alongside traditional face-to-face public health services – across Africa.
The startup now boast of a network of 30 medical institutions in Nigeria and Cameroon co-operate with the company, and the number of clients in the first half of the year exceeded 60,000 people.
The fresh fund will be used to widen the network and add other services to its platform and expand clients.
“Unlike many startups that rely only on telemedicine, Healthlane’s solution combines remote and face-to-face health services. Furthermore, the service’s customers become not only users but also doctors, hospitals, pharmacies, and other market participants. In the future, this all-in-one approach will enable the company to expand the list of services by adding, for example, insurance products.
In this, the company’s model is similar to the Chinese platform Ping An Good Doctor, whose audience over several years of operation amounted to 315 million people, with its capitalisation on the stock exchange growing to $15 billion. I am confident that Africa needs such projects, so we will continue to monitor the development of the local digital healthcare sector and will keep looking for exciting opportunities,” commented Alan Vaksman, founder, and managing partner of Digital Horizon.