MYDAWA has secured $9.6 million ((~KES 1.3 billion)) from Denmark’s Investment Fund for Developing Countries (IFU) to help expand its footprint across Kenya and Uganda.
With this funding, MYDAWA plans to open 30 new pharmacies in Uganda (half of them outside Kampala) and 10 more in Kenya. The company also plans to scale its online pharmacy platform. The end goal is to reach over 8 million patients annually by 2032.
The funding round saw participation of IFU, Alta Semper, AAIC Investment, Creadev and Japan-based Ohara Pharmaceutical. With MYDAWA’s track record of offering high-quality, affordable healthcare and certified products through both digital and physical channels, this funding seeks to build on this to achieve even more.
“The calibre of investors joining this round speaks for itself,” said Neil O’Leary, MYDAWA’s founder. “It confirms that MYDAWA is not just solving real problems at scale – it’s building a blueprint for the future of healthcare in Africa. We’re honoured to have partners who share our vision and will help us accelerate our mission.”
MYDAWA was founded in 2017 as an integrated platform offering online doctor consultations, lab testing, e-prescriptions, chronic-care management and medication delivery.
“As MYDAWA’s long-term partner, we’ve witnessed firsthand the company’s ability to deliver transformative healthcare solutions at scale,” said Zach Fond, partner at Alta Semper. “We’re excited to see this next phase of growth, which reinforces MYDAWA’s position as a category leader and a blueprint for digital health innovation across Africa.”
“MYDAWA’s strong focus on female leadership aligns with our ambition to make a difference in gender equality through our investments. We want to keep developing new approaches that will maintain IFU as a front-runner in gender equality in private-sector investments in developing countries,” said Lisbeth Erlands, Senior Vice President and Head of Healthcare in IFU.
Also Read: i3 Unveils Third Cohort of 7 African Startups Revolutionizing Pharmacy Services
