Egyptian Startup Otida secures US$340k in pre-seed round to expand operations

EGYPT – Egypt-based health tech startup Otida, has raised US$340,000 in pre-seed funding round to expand its digital diabetes treatment across Egypt and MENA region. The latest funding round was led by Lofty Inc., a Texas-based VC, with the participation of Flat6Labs Cairo, Afropreneurs, Jedar Capital, OQAL Angel Investors, UI Investments, and some angel investors. The startup will use the…

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Health tech startup launches Trust for investing 5% of future proceeds

AFRICA – 54gene, a health tech startup, is creating a Trust which it will use to invest up to 5% of future proceeds from the company’s commercial drug discovery program. The creation of the trust is part of its Commitment to Africa in establishing a more sustainable and thriving cyclical ecosystem across Africa’s scientific development space, as well as ensuring…

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