Uganda’s Rocket Health raises $5m Series A round to accelerate East African expansion

Uganda’s Rocket Health, a telemedicine and last-mile healthcare provider, has closed a US$5 million Series A funding round to accelerate its technology roadmap and geographical expansion to the different regions of Uganda and into Kenya.

In 2012, the company was founded. Rocket Health Uganda’s number one telemedicine provider, providing a complete healthcare experience for more than 25,000 patients. The startup’s solution leverages technology to provide four integrated services – 24/7 teleconsultations, medicine delivery, home sample collection for laboratory diagnostic testing and physical specialist clinic consultations.

Rocket Health’s US$5 million Series A is led by Creadev, the Mulliez family of French entrepreneurs has backed the evergreen investment fund, ‘The Muliez Fund. Creadev was joined by LoftyInc Capital Management and Grenfell Holdings, both early-stage African investors who also participated in this round. The funding will be used by the startup to expand in Uganda and Kenya.

“Rocket Health is on a quest to make quality primary healthcare accessible, affordable and convenient to achieve the best outcomes for as many Africans as possible through the exponential power of technology,” said Dr Davis Musinguzi, Rocket Health’s founder and CEO.

“We’re elated that the investment thesis of Creadev and the Mulliez family resonates deeply with this timeless vision of the Rocket Health founding team. Together, we shall build a sustainable digital healthcare value chain down to the last mile across Africa.” 

Pierre Fauvet of Creadev Africa and Sarah Ngamau from Rocket Health said that they are delighted to be partners with Rocket Health in its mission to make healthcare more accessible for all people in Sub-Saharan Africa.

“We have been highly impressed by the creativity, tenacity and vibrant culture of the Rocket Health team, which holds an ambitious vision for the future of African primary care. There are many opportunities, including data analytics and innovative distribution channels. Together with like-minded investors, we look forward to bringing our experience in retail, e-commerce, logistics and digital health to support Davis and his team as they revolutionize access to Healthcare in Africa,” they said.

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