$5 M Series A funding secured by Uganda’s Rocket Health to accelerate East African expansion
Rocket Health, a telemedicine and last-mile healthcare company based in Uganda, has raised $5 million in a Series A fundraising round to accelerate its technological roadmap and geographic development across Uganda and into Kenya.
Rocket Health, which was founded in 2012, is Uganda’s leading telemedicine provider, providing an end-to-end healthcare experience to over 25,000 patients. The startup’s approach integrates four services: 24/7 teleconsultations, pharmaceutical delivery, home sample collection for laboratory diagnostic tests, and physical expert clinic consultations.
Creadev, an evergreen investment company backed by the Mulliez family of French entrepreneurs, is leading Rocket Health’s $5 million Series A round. Creadev was joined in the round by current early-stage African investors Grenfell Holdings and LoftyInc Capital Management. The money will be used to develop the company across Uganda and into 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.”
Creadev Africa’s Pierre Fauvet and Sarah Ngamau expressed their joy at the opportunity to work with Rocket Health on its objective to make healthcare accessible to the masses 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. The opportunities are countless, from data analytics to 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 revolutionise access to Healthcare in Africa,” they said.
