Dubai: Jordan-based healthcare portal Altibbi gets a $44 million booster via a Series B funding round, which saw the likes of Foundation Holdings and Hikma Ventures coming in. They join existing investors – Global Ventures and Dash Ventures – who also participated in the round.
The raised funds will be used to launch online pharmacy and diagnostics collections. The overall aim is to be the region’s first end-to-end integrated ‘primary care’ platform.
Altibbi is said to be the ‘largest AI-based digital health provider in the Arab world’, hosting over two million pages of content and publishing six –peer-reviewed scientific papers in 2021. It has overseen 4.5 million telehealth consultations and has 20 million unique visitors a month to its platform.
Doctor on call
More than 1,500 certified doctors offer their services through the portal. The platform has so far raised more than $50 million since its founding in 2011. Shareholders also include Endeavor Catalyst, Middle East Venture Partners (MEVP) and Al Rashed, among others.
According to Jalil Allabadi, founder and CEO of Altibbi, “Altibbi is playing a critical role in organising digital healthcare services, improving quality and convenience for patients, and reducing costs of insurers and governments, even as it expands access across the region. Building an end-to-end platform and strengthening our geographic presence have always been strategic priorities.”
Jason Kothari, Senior Advisor at Foundation Holdings, will be joining the Altibbi board.
The remote healthcare market in the Middle East and North Africa is projected to reach about $2 billion in 2024.
400 million people in the Arab world lack basic health services, including access to medical information and advice, as over 70% of doctors' visits are unnecessary and add to the burden on the health system.
