Healthtech Startup Altibbi Nets $44M In Series B To Expand In Saudi Arabia &Egypt
Healthtech Startup Altibbi powered by AI technology nets the highest ever funding disclosed in the MENA to date.
To expand its services of online pharmacy, telemedicine, and diagnostics the startup Altibbi has successfully bagged funding of $44M. The healthtech with this huge amount of series B funding wants to expand in Saudi Arabia and Egypt to make health services more attainable. Due to its motive of accessible healthcare, investors from strategic and financial backgrounds have backed the startup.
Such as the prominent investor Foundation holdings led the funding round with the inclusion of other investors like Hikma Ventures, global ventures, and DASH ventures. Its diverse shareholder base also has some high-profile investors like Endeavor catalyst, Middle East Partners, and Al Rashed.
Founded in 2011, by Jalil Allabadi and his father Dr. Abdel Aziz Labadi, Altibbi has come forward as the top digital health provider for the MENA region. On achieving such a huge amount of funding CEO Jalil expressed his gratitude and explained the critical role of Altibbi in healthcare. He said
“We are thrilled to complete this significant funding round, with the endorsement of leading financial and strategic investors with strong healthcare and technology expertise. We are grateful to our new and existing investors, our partners, and the brilliant Altibbi family and team for allowing us to forge ahead with our mission. Altibbi is playing a critical role in organizing digital healthcare services, improving quality and convenience for patients, and reducing costs of insurers and governments, even as it expands access across the region. Building an end-to-end platform and strengthening our geographic presence has always been strategic priorities.”
The startup has caught the eyes of the investors because of the plenty of services such as teleconsultations allowing patients to connect with doctors instantly via chat. Moreover, to increase its efficiency in connecting patients with doctors the startup is using AI technology in its healthtech system. It has positioned itself as one of the “largest AI digital health providers in the Arab world “ with an unrivaled scale and innovation. It has conducted 4.5 million telehealth consultations to date and has monthly 20 million unique visitors to its platform. Having 1,500 active certified doctors on the platform it offers 24/7 telehealth services across seven regional countries.