Cairo – Mubasher: Egypt-based healthtech Chefaa has secured a $5.25 million investment co-led by Newtown Partners and Global Brain, according to a press release.
GMS Capital Partners LLC also participated in the funding along with Verod-Kepple Africa Ventures, and M3, Inc.
Founded in 2017 by Rasha Rady and Doaa Aref, the investment followed Chefaa's successful launch of operations in Saudi Arabia, where it is operating in eight cities across the Kingdom.
Meanwhile, the platform will use the funding to scale all models designed to digitise the supply chain and empower industry stakeholders.
Ryosuke Yamawaki, Partner at Verod-Kepple Africa Ventures, commented: "We firmly believe that with their wide-ranging product offerings serving multiple stakeholders, Chefaa will become a critical business infrastructure for pharmaceutical supply chains in Egypt and the broader Gulf region.”
Aref, CEO of Chefaa, said: “Chefaa continues to prioritise market needs in the face of continuous challenges. This has resulted in designing new services and features with our eyes on our mission and vision.”
