Nigerian Healthtech Startup, MDaas Has Raised $1.1 Million from over 12 Investors

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Nigerian-based Healthtech startup, MDaaS has just raised about $1.1 million in a new funding round from over 12 investors. This was made known by a US Securities and Exchange Commission (SEC) filing.

According to the document, the total amount filed for was $1.58 million and MDaas has been able to raise $1.05 million already. Which is 66.80 % of the financing round.

This leaves about $500,000 yet to be raised and its pretty unclear if the startup still intends to raise the remaining amount as well as what the startup intends to use the funds for.

Technext reached out to MDaaS for more insight but we are yet to receive response as at the time of writing.

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 under-served communities in Africa, starting with Nigeria. The startup was founded and incubated at the Massachusetts Institute of Technology (MIT). Its center offers radiology, cardiology, and lab services.

The startup was born out of the challenge of poor access to functioning and safe medical facilities in the healthcare system. The startup has provided these services by introducing software solutions and investing heavily in an integrated supply chain as well as sharing resources across locations.

Their first centre kickstarted in Ibadan, Oyo State in 2017. And since January 2018, the startup has reportedly grown its revenue by 500%.

Last year, the startup raised $100 000 from Nigerian VC firm Ventures Platform to aid its commitment to better healthcare acccess to Africans.


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