Nigerian early-stage funding firm, Ventures Platform, has announced adding a new startup to its portfolio. The VC firm which is turning out to be one of the prolific investors in the Nigerian tech ecosystem has announced its latest investment in Nigerian-based Healthtech startup, MDaaS.
This was made known through a post on Medium by founding partner, Kola Aina who said they have decided to make a $100,000 investment in MDaaS as a result of the startup’s commitment to building a future where African consumers have access to better healthcare–no matter their income level!
I just published “Investing in MDaaS” https://t.co/PiUsCReKHA
— Kola Aina (@kola_aina) September 4, 2018
Founded in 2016 by Genevieve Barnard and Oluwasoga Oni, MDaaS is a healthcare startup that is aimed at providing high-quality and affordable primary healthcare facilities for clinically underserved communities in Africa, starting with Nigeria. The company was founded and incubated at the Massachusetts Institute of Technology (MIT) and their center offers radiology, cardiology, and lab services.
Born out of the need to solve the challenge facing accessibility to functioning, safe medical equipment in the heathcare system, MDaaS has been able to solve this by “introducing software, being smarter about process design, investing heavily in an integrated supply chain, and sharing resources across locations. MDaaS has significantly dropped the cost of setting up and operating each center.”
Deals like this gladden my heart and make the hustle worth it.
When portfolio company and investor are change agents.
When portfolio company and investor are amazing.
When portfolio company and investor are clients.
— Odunoluwa 🌱 (@OdunoluwaL) September 4, 2018
Their first centre kickstarted in Ibadan, Oyo State, about ten months ago and before its 5th month of operation it had gotten its break. And since January this year, it has continued to grow its revenue by 500%. This shows the team’s capabilities to successfully run and scale across Nigeria.
They also recently got accepted into the first Techstars Impact cohort in Austin.
— Ventures Platform Fund (@vp_fund) September 4, 2018
Ventures Platform is convinced that MDaaS would succeed and are happy to make an investment in it.
And according to Kola Aina, “at Ventures Platform, we believe bold entrepreneurs will solve some of Africa’s most important problems using technology, and in the process, create value for their shareholders. In the past four months, we have only gotten more convinced that Soga, Genevieve, Joe, and Opeyemi will succeed.”
Get the best of Africa’s daily tech to your inbox – first thing every morning.
Join the community now!