MDaaS Global, a health tech firm, secures $3 million to broaden its services across Nigeria

Nigerian health tech company, MDaaS Global has managed to raise $3 million in a funding round before its Series A funding. The investment was led by Aruwa Capital Management and Newtown Partners, with additional funding from Ventures Platform.

This brings MDaaS Global’s total investment to $6.8 million. The company plans to use the funds to enhance its technology platform, BeaconOS, and expand its healthcare network to all 36 states in Nigeria.

MDaaS Global, which operates BeaconHealth Diagnostics, launched its first diagnostic clinic in 2017 and has since grown to 17 locations across 10 states in Nigeria. The company aims to democratize access to high-quality diagnostics and healthcare services across Africa. The additional capital will support the development of new applications on the BeaconOS platform, addressing critical issues in the healthcare system.

The company’s CEO, Oluwasoga Oni, highlighted the importance of leveraging technology to address challenges within Nigeria’s healthcare system. MDaaS Global’s BeaconOS serves as the digital backbone of its healthcare network, optimizing and connecting physical clinics. The company plans to develop applications facilitating collaboration with partner clinics, digital integrations with Health Maintenance Organizations (HMOs), and a patient-facing application for booking visits and managing health-related tasks.

Improved diagnostics are crucial in Africa, where many health facilities lack the necessary equipment for basic tests. The World Health Organization has identified the need for diagnostic and laboratory services as essential for achieving universal health coverage. MDaaS Global aims to contribute to this goal by expanding its network and making quality healthcare more accessible in Nigeria and beyond.

Aruwa Capital Management and Newtown Partners, the lead investors, expressed their excitement about supporting MDaaS Global’s mission to revolutionize healthcare delivery in Africa. Aruwa Capital Management, a Lagos-based fund, focuses on investing in businesses that provide essential goods and services, particularly those founded or co-founded by women. Newtown Partners, an entrepreneur-founded VC firm, invests in startups leading in emerging technologies and disruptive business models.