Lagos-based e-health startup Helium Health has raised US$10 million in Series A funding for expansion in its existing markets and move into new ones.
Helium Health, founded in 2016, takes hospitals and clinics instantly digital with its flagship Electronic Medical Records/Hospital Management Information System (EMR/HMIS) product, the most widely used of such solution in West Africa.
The company has announced the completion of a US$10 million Series A funding round, led by Global Ventures and Asia Africa Investment & Consulting (AAIC). Also participating are Tencent, Ohara Pharmaceutical Co, HOF Capital, Y Combinator, VentureSouq, Chrysalis Capital, Kairos Angels and Flying Doctors Healthcare Investment Company.
Helium Health will use the investment to expand its market footprint. In addition to growing its current customer base in Nigeria, Ghana, and Liberia, the company will use the funding to support new expansions to markets in North Africa, East Africa and Francophone West Africa this year.
It is also in the process of growing its tech product suite beyond its flagship offering, rolling out newly developed software products for healthcare stakeholders – providers, payers, patients, and public health partners such as governments and donor agencies. These new products will help boost operational efficiency, improve revenue generation, expand health financing, monitor public health and improve health outcomes.
They include Helium Teleclinic: a platform that enables brick and mortar hospitals to have televisits with their patients; HeliumPay, a billing and payments solution; Helium CareCredit, a provider-financing product; Helium Cover, an enrollee, tariff and claims management product; and the MyHelium Patient Superapp, an app that helps healthcare facilities manage patient engagement and retention.
Adegoke Olubusi, co-founder and CEO of Helium Health said “We started out with taking hospitals digital but our vision has always been bigger. We’re building the technology infrastructure to connect a fragmented healthcare sector and power the delivery of quality, affordable, comprehensive care across the continent,”
“The devastating impact of the pandemic is a humbling reminder of how critical responsive and agile health systems are to our collective wellbeing. Only data and technology can produce the required responsiveness and agility to tackle health challenges of this magnitude. It has never been more imperative for Africa to build a modern and digitised healthcare system.” added Olubosi