Regional digital health startup Altibbi has raised $6.5 million in a new investment round.
The round was co-led by Middle East Venture Partners (MEVP), the venture capital firm backed by Dubai billionaire Mohamed Alabbar, and Dash Ventures.
New investors included TAMM, RIMCO Investments and Endeavor’s Catalyst Fund along with other undisclosed firms.
The company said it would use the proceeds to expand its digital health platform for businesses and consumers in the Middle East and North Africa.
This will include growing its Arabic medical content library comprising 1.5 million pages and the expansion of its question and answer platform, which currently serves 12,000 Arab doctors.
Altibbi also plans to expand its tele-health plans across the Arab world and to invest in developing industry-specific solutions for businesses.
“The funding is fully dedicated to further growing the company, which has established an exceptional track record as a premier provider of trusted health and wellness information in the region serving over six million people every month,” said co-founder and COO Ayman Sharaiha.
“We believe there is a true opportunity to further build Altibbi’s portfolio of telehealth solutions for the benefit of companies and consumers in the region.”
The company currently provides health services in 10 markets through its mobile application and website.
MEVP recently launched its third Middle East and North Africa venture capital fund with a target size of $250 million.
By Robert Anderson
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