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Telemedicine service provider – Rocket Health – raises $5 million to scale its expansion beyond Uganda

2 Mins read

The sudden health threat introduced by the outbreak of COVID-19, and the ensuing lockdown, was a major inspiration behind the innovations experienced in the health technology sector.

Startups have been springing up to cater for the health of people, while still limiting physical contacts. A couple of the Healthcare providers that have existed before the outbreak of COVID-19, have also been forced to push towards innovation.

One of the companies that have taken cue from the COVID-19 pandemic to create innovation that solves contemporary health problems is Rocket Health.

Rocket Health is an Ugandan-based telemedicine and last-mile healthcare provider. The startup, in a view to provide better services for its subscribers have completed a Series A funding round, closing the fundraise with US$5 million in the bag.

The funding round was led by Creadev – an evergreen investment firm backed by Mulliez family. Further participation came from early-stage African investors: Grenfell Holdings, and LoftyInc Capital Management.

Speaking on the fundraise, Creadev Africa expressed thus:

“We are delighted to partner with Rocket Health on its mission to make Healthcare accessible to many people in Sub-Saharan Africa. We have been highly impressed by the creativity, tenacity and vibrant culture of the Rocket Health team, who hold an ambitious vision for the future of African primary care. The opportunities are countless, from data analytics to innovative distribution channels.”

Read also: Healthtech startup – Susu – raises $1 million to scale its collaborative health insurance scheme

Rocket Health noted that it would use the funds to scale its expansion beyond Uganda into other East African countries.

“Rocket Health is on a quest to make quality primary healthcare accessible, affordable and convenient to achieve the best outcomes for as many Africans as possible through the exponential power of technology. We’re elated that the investment thesis of Creadev and the Mulliez family resonates deeply with this timeless vision of the Rocket Health founding team. Together, we shall build a sustainable digital healthcare value chain down to the last mile across Africa,” Dr Davis Musinguzi said.

The startup was founded in 2012 by Dr Davis Musinguzi, Dr John Mark Bwanika, Ms Fiona Nuwamanya, Dr Hope Achiro and Dr. William Lubega. The founders also doubles as CEO, COO, CFO, Chief Pharmacist, and Chief Medical Officer, respectively.

Rocket Health provides online medical consultation, sample collection, and delivery of medicines to its subscribers. The startup also runs a USSD service for subscribers without access to the internet.

Occasioned be the COVID-19 pandemic, Rocket Health has grown its users from a handful of consultations to over 400,000 consultations per year.

Rocket Health has also partnered with Berlin-based virtual healthcare AI, Ada, to integrate artificial intelligence into the virtual consultation services it offers.

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