Rwandan digital health access startup Kasha secured $21 M Series B funding for expansion
A digital platform for last-mile access to health developed by Rwandan startup Kasha has raised US $21 million in a Series B funding round to support its continental growth.
Since its launch in 2016, Kasha has provided consumers, resellers, pharmacies, hospitals, and clinics with authentic, reasonably priced products for fast-moving consumer goods and pharmaceuticals.
By utilizing its sales and last-mile distribution network, data analytics, and e-health services, Kasha also assists businesses as a channel partner. This enables pharmaceutical companies and international health organizations to increase access to high-quality healthcare products through marketing, consumer insights, and end-to-end distribution visibility to the last mile.
With the knowledge that women are the most influential segment for household goods and health products, but are still largely underserved, the company has optimized for women as its target customer segment.
With participation from FinnFund, DFC, Altree Capital, Tim Koogle and Pam Scott, Beyond Capital Ventures, Bamboo Capital’s BLOC Smart Africa Fund, Five35 Ventures, and other new and existing investors, Kasha’s US$21 million Series B round is led by South African-based pan-African VC firm Knife Capital.
The money will be used to expand Kasha throughout Africa. The startup, which is already expanding quickly within Kenya and Rwanda, has started operating in South Africa and will expand to West Africa later in 2023.
In order to become Africa’s top platform for last-mile access to healthcare, Kasha is also using the Series B funding to make additional investments in its digital platform and enterprise service offering.
“Having reached this major milestone of closing our Series B, we are even more inspired and determined to achieve Kasha’s mission of being Africa’s leading digital platform for last-mile access to health,” said Joanna Bichsel, founder and CEO of Kasha.
“The exponential revenue growth we’ve experienced over the last several years was driven by the high market demand for quality, affordable health products and household goods from mass market customers in urban and rural areas of East Africa, and this has proven out our business model and our team’s ability to execute. With Knife Capital leading our Series B, bringing their strong track record of portfolio companies that have scaled across the continent with successful exits to industry-leading global corporations, provides us with the proven experience we need to achieve our ambitions as a company and to take it to the next level.”
The founding partner of Knife Capital, Keet van Zyl, expressed excitement about leading Kasha’s Series B round and enlisting reliable value-adding investors.
“In the current economic climate, it is refreshing to come across such a high-growth capital-efficient business that is female-led and optimised to serve the large mass market segment in Africa, being especially strong at serving women customers. We look forward to being a partner in the pan-African expansion journey with this purpose-driven dedicated team,” he said.
