Sehatech raises USD 1.1 mn in seed round

Homegrown insurtech startup Sehatech closed a USD 1.1 mn seed round led by Ingressive Capital, with participation from Plus VC, strategic angel investors, and existing backers A15, Beltone Venture Capital, and an undisclosed industry expert, the company said in a statement (pdf) yesterday. The new round brings Sehatech’s total funding to USD 2.0 mn, after it raised USD 850k two years ago.

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Sehatech? The company specializes in third-party administration of health ins. claims and provides AI-powered digital solutions that help ins. players cut costs from manual errors and reduce fraud, waste, and abuse by digitalizing interactions between them and healthcare providers.

Where is the money going? The company plans to use the new funds to expand its team and technical capacity, grow operations in Egypt and abroad, and further develop its platform with advanced AI capabilities and more efficient automation tools, according to the statement.

What they said: “This funding will help us continue building the tools needed to reduce friction between insurers and providers — and ultimately make health ins. more available to the mns who are underserved today,” Sehatech Founder and CEO Mohamed Elshabrawy said.

Tackling a challenging market: Egypt’s health ins. sector faces several challenges, including limited coverage — particularly in areas with weak infrastructure — which restricts access to quality healthcare, Elshabrawy told EnterpriseAM. Sehatech’s mission is to expand access to ins. coverage and make it more inclusive and efficient, ensuring broader, more affordable coverage for citizens.

The solution: Sehatech is digitalizing and automating ins. operations to address inefficiencies, cut administrative complexity, and save time, Elshabrawy told us. Its digital tools also accelerate pricing, claims management, and payment processes, improving efficiency and user experience for patients, providers, and ins. players alike.

And the company is going regional: Sehatech plans to enter Gulf and North African markets over the next two years as part of its expansion plan while forming strategic partnerships with key players to accelerate growth and strengthen its position as a leading insurtech platform in the region, Elshabrawy added.