Kasha, a Rwandan healthtech startup that provides access to affordable healthcare products and services to women in Africa, has raised $21 million in Series B funding led by Knife Capital – a South African venture capital firm. Further participations in the funding came from Finnfund, Swedfund, DFC, and Mastercard Corporate.
The startup stated the funding will be used to expand its operations across Africa and invest in strategic areas of the business to further continue our high growth trajectory,
“We are excited to partner with Knife Capital and other investors to scale our platform and make healthcare more accessible to women across Africa,” said Joanna Bichsel, CEO of Kasha. “We believe that our platform has the potential to revolutionize the way that women access healthcare in Africa, and we are committed to working with our partners to make that happen.”
Kasha was founded in 2016 by Joanna Bichsel. The company’s platform allows women to order healthcare products and services online, including contraceptives, sanitary pads, and pregnancy tests. Kasha also offers a variety of educational resources on women’s health.
“We have always understood that women are the most influential customer in the health space, both because they have the most health needs and are decision-makers for health in the household and unlock the rest of the population. Since many health products for women are stigmatized, Kasha has purposely offered a wide variety of products, including personal care products like soap, health products like contraceptives, and household staples like rice,” Bichsel said.
Kasha currently operates in Rwanda and Kenya. The company plans to use the new funding to expand into other African countries, including Nigeria, Ghana, and South Africa. Kasha also plans to develop new products and services, such as telemedicine and mobile health apps.
“We are excited to support Kasha as they scale their platform and expand their reach to more women in Africa,” said Nic Douwsma, partner at Knife Capital. “We believe that Kasha has the potential to become a leading player in the African healthcare market.”
Speaking on the investment, the lead investor, Keet van Zyl, co-founder, and partner at Knife Capital said:
“In the current economic climate, it is refreshing to come across such a high-growth capital-efficient business that is female-led and optimized to serve the large mass market segment in Africa, being especially strong at serving women customers. We look forward to being a partner in the Pan-African expansion journey with this purpose-driven dedicated team.”
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The funding announcement comes at a time when the African tech ecosystem is growing rapidly. In 2022, African startups raised a record $5.2 billion in venture capital funding. Kasha is one of many African startups that are making waves in the global tech scene.
With the new funding, Kasha is well-positioned to become a leading player in the African healthcare market. The company has a strong team, a clear vision, and a large addressable market.