BYON8, an online doctor digital health platform just raised $1.5 million in seed capital to help in its expansions across Africa. Danish early tech investor, People Ventures, took part in the round alongside current investors T&W Holding and Jellyfish Invest who also participated.
The company was founded in 2015 by Josef Murad & Matias Murad offering telepathy as a way of making healthcare affordable to everyone. BYON8’s app runs 24/7 and one can easily use the app to arrive at a problem when they fall ill.
In 2019, BYONB launched new medical diagnostic software that runs on mathematical algorithms and medical AI converting patient data into calculated diagnostic propositions enhancing the healthcare procedure and customer experiences regardless of their financial status.
Since the partnership in 2020, People Ventures assisted BYONB in product development and growth and talent acquisition. Josef Murad (CEO) described the participation of People Ventures in the seed round as “ a great recognition of the work we have done so far.” Investors backing BYON8 are such as Fredrik Olofsson, the founder of fintech Steven and other private players.
BYON8 is looking to enter the Kenyan market hence the seed raise of $1.5 million. Jurad Murad pointed out the huge inadequacy of doctors in Kenya where the figures are at 1 per 250, while in Kenya it stands at 1 per 10,000. Stats also show that thousands of doctors are unemployed or underemployed as public health services cannot absorb more of them.
BYON8 has yet to report any turnover instead reports a negative of $390,000 in 2020. Josef Murad says the investment into Kenya will expand further into similar markets of South Africa, Ethiopia, and Ghana.
— BYON8 (@BYON8_official) August 6, 2021
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