Otida, an Egyptian startup in e-health, has raised US$340,000 in funding to support its goal of improving the lives of 5,000 patients with diabetes in Egypt and in the Middle East.
Originally founded as Instadiet, a diet management application Otida patients with diabetes need to be managed by a physician, nutritionist, or fitness coach.
Patients can sign up for wearables that measure blood sugar every 15 minutes. They also report back to the cloud. Utilizing additional data, such as food consumed, medication prescribed, and periodical lab tests, the app “learns” the patient to tailor the best-personalized care model.
Otida assigns each patient a coach who is available 24 hours a day. Otida also educates the patients about their individual conditions. Otida shows them how to measure their insulin levels and use that data to improve your lifestyle.
LoftyInc Capital Management led the US$340,000 preseed funding round. Flat6Labs was involved, as well as Jedar Capital, Flat6Labs and OQAL angel investors, UI Investments, and other angel investors. The round will help the team productize Otida’s operations and expand distribution to reach more patients.
“Otida’s business model revolves around the needs of patients with diabetes. We believe that with the level of technology we are surrounded by today, it’s unacceptable to have patients with diabetes still struggling to find the right treatment program that fits each individual condition,” said Ahmed Tawfic, founder and CEO of Otida.
Mona AbdelMoteleb is the medical director at Otida. She said that Otida had insulin-dependent patients with type 2 diabetes.
“With Otida’s guidance, they stopped taking it and stopped depending on medications altogether. We want to be a companion to help diabetic patients live a normal, happy life,” she said.