Kenya’s Ilara Health Raises $4.2 Million to Enhance Healthcare Access

Kenya’s healthtech wonder, Ilara Health, has just pocketed $4.2 million in funding to spread its wings and offer better healthcare across the country.

Led by DOB Equity, a $2.5 million chunk of this funding came in the form of equity, with big names like the Philips Foundation joining in. 

Also chipping in were previous backers AAIC INVESTMENT, Angaza Capital, Black Pearl Investments, and Perivoli Innovations. Meanwhile, Alphamundi, Kiva Capital, and Boehringer Ingelheim pooled together $1.7 million in debt investment.

So, what’s the plan with all this cash? Well, Ilara Health wants to roll out a cool new service for businesses, where uninsured workers can get medical attention at partner clinics by paying a fixed monthly fee. This move is aimed at making healthcare more accessible to everyone.

Ilara Health, founded in 2019 by Emilian Popa, Maximilian Mancini, and Sameer Afzal Farooq, initially focused on supplying medical gear to private clinics. But over time, they’ve evolved. 

Now, they not only lease diagnostic equipment but also extend credit to health centres for buying meds and even hospital furniture.

Popa says this smart strategy has helped clinics stay well-stocked and offer top-notch care to patients. Currently, Ilara serves around 3,000 out of Kenya’s 15,000 clinics, mostly situated in neighbourhoods for easier access.

Public clinics might face hiccups due to equipment glitches, leading to delays in patient care. That’s where Ilara steps in, partnering with companies like Butterfly Network to provide affordable tools like portable ultrasound devices, making sure patients get timely scans.

But that’s not all. Ilara also offers clinics a monthly subscription for practice management software at just KSh1,000 ($6.25), making their lives easier.

With this recent funding, Ilara Health’s total kitty stands at $11.7 million, including debt, equity, and grants. And this isn’t their first rodeo in securing funding either. 

Back in 2020, they bagged $3.75 million to expand their diagnostic services across Africa, following a $1.1 million grant just two months earlier.