Investors continue to love medical startups, with two USD investments in medical startups announced only days apart.

TIYE ANGELS MAKES FIRST INVESTMENT-

Biomedical startup InCurA is raising a USD pre-seed round with investments from Tiye Angels, AUC angels, KAUST Innovation Ventures, UI Investments, and Pharos Holding, Tiye Angels Manager Christine Sedky told Enterprise adding color to a statement (pdf) sharing the news.

Where’s the money going? InCurA will use the funds to develop new products, finalize clinical trials for products that have already been developed, and carry out scientific marketing for products that will be released this year, Sedky said. InCurA aims to launch eight products in the fields of wound dressing and hemostatic agents by 2027, Sedky said.

About InCurA: Launched in September 2021, InCurA manufactures medical products, particularly those that focus on bleeding control. The startup also introduces the market to medical devices and then sends them to be manufactured locally in the Middle East, according to the statement. The company registered in Delaware in 2022, then in Egypt and KSA the following year, Sedky told us.

A first for Tiye: The funding round marks the first ever investment by Tiye Angels — the country’s first female angel investment network — which invested a six-figure USD sum itself, Sedky told us. Launched in December 2019 and backed by USAID’s Business Egypt Program, Tiye Angels empowers investors, the majority of whom are female, to invest in female founders.

PHARMA MARTS SECURES SIX-FIGURE USD FUNDING-

Healthtech startup Pharma Marts has received a six-figure USD investment from venture capital firm Acasia Ventures, according to a statement (pdf). The statement didn’t disclose how the funds will be utilized.

About Pharma Marts: Founded in 2021, the startup is an online B2B marketplace that allows pharmacies to connect with suppliers, allowing them to browse medical supplies, compare prices across different suppliers, place orders with flexible buy-now-pay-later options, and receive deliveries within 24 hours. Some 12k pharmacies currently use the platform — which accounts for 20% of the total market — giving them access to over 200 featured suppliers.

To date: The startup has secured USD 2 mn in funding from local and international VCs.

Regional expansion ahead? “We are excited about having Acasia Ventures on board, given its great presence in African markets that we are planning to enter, as well as their solid network of advisors and experts in the pharma industry,” CEO and co-founder Ahmed Kadous (LinkedIn) said.

ICYMI- Funding for healthtech startups in Egypt jumped 137% y-o-y in 2023 to USD 36 mn, on the back of investments in Yodawy (USD 16 mn), Chefaa (USD 5.3 mn), and our friends at primary care company Dawi Clinics (USD 8 mn).

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