ETHIOPIA – eHealth IT Services PLC Orbit Health, a subsidiary of Orbitly INC, has announced that they have raised a seed funding led by Africa Focused Early stage fund, Savannah Fund and a New York based family investment firm, Betam Group.
Ibex Frontier, an active player in the tech and startup space, advised on transaction and structuring.
Orbit health is a health tech startup that provides a system for lean health-care workflow, centralized scheduling and appointment, electronic medical record (EMR), data analytics, collaboration, billing and payment and design a health system & consultation service.
The amount of the funding is not disclosed. But according to the release, the fund raise comes at a time where Orbit Health has been selected as a successful Ethiopian Digital Health company.
This is part of the consortium, led by US based John Snow Inc, to help transform Ethiopia’s healthcare digitally, with a contract amounting to US$63M over 5 years.
The seed funding is aimed to support further expansion and service delivery of Orbit Health and to help the startup to invest in digital offerings that are customized to Ethiopian healthcare facilities.
Pazion Chernet, Co-Founder & CEO of Orbitly, said “It gives me a great pleasure welcoming our strategic investors that will position us from a startup to high rise with their tremendous VC funding and growth experience and wisdom.
“I am especially proud to announce our first external fund raise that coincided with our double win in digitizing Ethiopia’s health care with our partners JSI, the USAID and Ethiopia’s Ministry of Health.
“This fund raiser will enable us deliver on our promise at a scale and we are extremely hopeful of what the future holds to us and our clients.”
Mbwana Alliy, Managing Partner of Savannah Fund that led the investment round of its first ever for Ethiopia, said, “We are excited to invest in Ethiopia and participate in its growing startup scene making it our 7th country in Africa.
“Orbitly has the potential to transform Ethiopia’s healthcare ecosystem by through digitization across both public and private hospitals and clinics. I look forward to spending more time in Ethiopia to bring our experience on the continent and internationally to help Orbitly succeed.”
