Ezdehar invests big in local healthtech startup: Egypt-based private equity firm Ezdehar Management has acquired a minority stake in local pharma delivery startup Yodawy through a USD 10 mn investment, Ezdehar said in a press release (pdf). The investment came through its Ezdehar Egypt Mid-Cap Fund II, which counts the European Bank for Reconstruction and Development, International Financing Corporation and others among its contributors.

Where is the money going? The investment will help Yodawy grow through expanding itsclient base and tech-enabled prescription capabilities.

About Yodawy: The startup’s flagship product is a pharma delivery app with a built-in AI ins.approval engine and a digitized prescription tool. After being founded in 2018, Yodawy now counts Algebra Ventures, Dubai-based Global Ventures, Delivery Hero’s VC arm, Japanese healthcare-focused fund AAIC Investment, Saudi investment group Dallah Albaraka, Lebanon’s Middle East Venture Partners (MEVP), UAE-based C-Ventures (CIB’s VC arm), and Africa-focussed P1 Ventures among its backers and raised USD 16 mn in a series B round last year.

What they said: “Ezdehar’s funding and partnership at this time will be critical for us to continueto drive change and support us in our mission to reduce healthcare costs, facilitate patients’ access to services, and improve their overall experience,” Yodawy CEO Karim Khashaba said.

ICYMI: Ezdehar has been keeping busy this year and has already acquired a majority stakein local clothing company SETA Textiles — the company behind clothing brands Dalydress and Premoda. Ezdehar wants to invest a total of USD 70 mn this year across various sectors that include manufacturing, healthcare, retail, technology, and others.

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