MDaaS Global, a Nigerian diagnostic health-tech startup, has raised $3 million in pre-Series A funding. The company runs a nationwide network of tech-enabled diagnostic centres.
The startup’s CEO, Oluwasoga Oni, disclosed the latest round of funding in a statement seen by News.ng on Wednesday.
According to the statement, Aruwa Capital and Newton Partners led the round; the latter was the primary investor in the health tech company’s 2021 $2.3 million seed extension.
Ventures Platform also provided follow-on funding to MDaaS, increasing its total investment to $6.8 million.
Oni launched the startup in 2016 with his wife Genevieve Oni, Joe McCord, and Opeyemi Ologun.
MDaaS said plans to utilise the funding to introduce BeaconOS, the exclusive technological platform it introduced the previous year.
The eight-year-old health startup also intends to use a combination of company-owned and affiliate clinics to grow its healthcare network to include all states in Nigeria.
“Our diverse backgrounds, experiences, and strengths were extremely helpful in the early days when it was really just the four of us,” Oni said during an interview.
They opened their first diagnostic facility in Southwest Nigeria’s Ibadan. Subsequently, six other centres have been constructed in various Nigerian cities.
They provide a comprehensive range of medical services, including electrocardiograms (ECGs), digital X-rays, ultrasounds, and other laboratory treatments.
“While SentinelX didn’t perform as well as a B2C product, it has been highly successful as a B2B product. We now focus on serving corporates and conducting annual screenings for their employees,” explained CEO Oni.
“We’ve also incorporated pre-employment screenings and government-mandated screenings, which have become a significant source of revenue alongside individual customers who visit our hospitals for screenings.”
By utilising its BeaconOS capabilities and integrated care network, MDaaS claimed it has treated over 275,000 patients since its founding.
Furthermore, more than 240,000 diagnostic tests were performed by MDaaS, with full blood counts, urinalyses, and chest x-rays ranking among the top three operations completed.
