{"id":605606,"date":"2023-09-03T00:00:00","date_gmt":"2023-09-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round\/"},"modified":"2023-09-03T00:00:00","modified_gmt":"2023-09-03T00:00:00","slug":"this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round\/","title":{"rendered":"THIS EVENING: Healthtech startup Sehatech closes USD 850k pre-seed round"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Good afternoon, ladies and gentlemen. <\/strong> We\u2019re starting off a new week (and a new month, to boot) with a relatively calm news cycle here in Omm El Donia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORY TODAY <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Healthtech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sehatech.org\/\" style=\"\" rel=\"noopener\">Sehatech<\/a><\/strong><strong> has closed a USD 850k pre-seed funding <\/strong><strong> round<\/strong>, the company\u2019s CEO Mohamed Elshabrawy told Enterprise. The funding was provided by VC firm <a target=\"_blank\" href=\"https:\/\/www.a15.com\/\" style=\"\" rel=\"noopener\">A15<\/a> and Beltone Venture Capital, Sehatech said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/9\/66.pdf\" style=\"\" rel=\"noopener\">a press release (pdf)<\/a>. Sehatech plans to use the money to finance its proprietary technology which aims to automate and streamline medical approvals, claim processing and billing between ins. companies and healthcare service providers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORY ABROAD <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> It\u2019s a mixed bag in the international business news today: <\/strong><\/p>\n<ul>\n<li><strong> PIF\u2019s move on steel manufacturers has been developing <\/strong>as the fund intends to secure Saudi Iron & Steel Company from Sabic. In turn, Sabic\u2019s steel unit, Hadeed, will take over AlRajhi Steel Industries Co. in return for stock. The acquisition is anticipated to close before 1Q 2024. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-03\/saudi-pif-to-create-steel-giant-with-3-3-billion-sabic-deal?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<\/ul>\n<ul>\n<li><strong> Economic downturn in Asia has a domino effect: <\/strong>Korea, Japan, and Taiwan have all reported losses as Beijing has been suffering from an economic slump on the back of a struggling real estate sector, weakening currency, and deflation. (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ae3c146f-5752-4d04-8a62-d7957a85f542\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<\/ul>\n<p style=\"padding:0;line-height:1.15;margin-right:0;margin-left:36pt;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ** CATCH UP QUICK <\/strong> on the top stories from today\u2019s <strong> EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong> US weighs in on Aphrodite gas field dispute: <\/strong> Washington <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/418c847f-5cd5-4dfb-afa0-39291974d258\" style=\"\" rel=\"noopener\">is backing<\/a> US oil and gas giant Chevron\u2019s plans to develop Cyprus\u2019 massive Aphrodite natural gas field \u2014 which include building a pipeline linking the field to Egypt \u2014 after Cyprus turned down the plans last week.<\/li>\n<li><strong> PSA- Foreign nationals are going to need FX to get residence permits: <\/strong> Foreign nationals applying for a residence permit after arriving in Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96b6665e-a83a-43f5-840e-06050d36a988\" style=\"\" rel=\"noopener\">will soon be required<\/a> to transfer the required fees from hard currency into EGP through a local bank or exchange office.<\/li>\n<li><strong> Egypt\u2019s net foreign liabilities narrowed by USD 800 mn in July, <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57a596ba-4964-4765-a0a5-98d4807608d3\" style=\"\" rel=\"noopener\">driven by a slight easing in FX liquidity in the banking sector<\/a>, according to central bank figures out last week. The country\u2019s net foreign asset position improved to negative USD 26.3 bn from negative USD 27.1 bn in June.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/finance.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/climate.enterprise.press\/wp-content\/uploads\/2023\/08\/Finance-Forum-1920px.jpg\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> CHECK OUT OUR AGENDA- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The Enterprise Finance Forum is taking place on 18-19 September at <\/strong><strong> the St. Regis Hotel in Cairo. <\/strong> This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> This is our first two-day event<\/strong>,which should give us plenty of time to dive into the nitty gritty of this industry we love. Our panels will see CEOs, bankers, investors and founders gather to discuss the future and trends shaping banking, finance, fintech and NBFS. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Our full agenda will be out at month\u2019s end. Among the topics we\u2019ll be discussing: <\/strong><\/p>\n<ul>\n<li><strong> Looking into the crystal ball: <\/strong> Top industry CEOs will join us on stage to answer tough questions on where we are as an industry, the forces that will shape all of our businesses going forward, and their views on dealflow in the year ahead.<\/li>\n<\/ul>\n<ul>\n<li><strong> Surviving nuclear winter: <\/strong> We discuss how private equity and venture capital players are tackling challenges including fundraising and deployment in an environment in which it\u2019s awfully difficult to price your local asset in USD terms.<\/li>\n<li><strong> The robots are coming: <\/strong> We explore what the coming AI and big data means for the industry in our part of the world and what can bankers, NBFI, and fintech players do to capitalize on them.<\/li>\n<li><strong> What do you do when nobody wants to be a banker <\/strong> \u2014 and when those who are already (investment or commercial) bankers are either (a) dreaming of doing their own startup or (b) moving to Dubai (or, increasingly, Riyadh)? We go deep into the weeds with industry leaders on how they\u2019re building talent for tomorrow.<\/li>\n<li><strong> NBFIs are a bubble. Prove me wrong: <\/strong> We chart the explosive rise of NBFIs and ask whether the industry is ready for a wave of consolidation. We\u2019ll dive into whether consumer finance is starting to mature as a segment \u2014 and ask which sector is next.<\/li>\n<li><strong> What does 2024 hold in store for fintech: <\/strong> We dive deep into which categories are getting traction, which segments will account for the lion\u2019s share of future growth, what business they would start today if they could, and what we can expect of the sector in the year ahead.<\/li>\n<li><strong> What\u2019s a bank, anyway? <\/strong>Wherein we talk challenger and neobanks with the players looking to shake up the brick-and-mortar industry. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ** NEW: MORE NETWORKING TIME- <\/strong> Our agenda includes expanded networking time, including an expanded coffee break and a post-event networking room for you to interact with your peers and speak one-on-one with the team at Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> STAY TUNED for more detail <\/strong>about our exciting agenda in the weeks to come.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/\" style=\"\" rel=\"noopener\">TAP OR CLICK HERE<\/a><\/strong> if you want to express interest in attending. We\u2019ll be sending out the first batch of invitations soon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Do you want to become a commercial partner? <\/strong> Ping a note to <a target=\"_blank\" href=\"mailto:mtaalab@inktankir.com\" style=\"\" rel=\"noopener\">Moustafa Taalab, our head of commercial<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"web-image-inner\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"display: block\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/03\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg\" alt=\"enterprise\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> *** It\u2019s Inside Industry day \u2014 <\/strong><strong> your weekly briefing of all things industrial in Egypt. <\/strong> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In today\u2019s issue: <\/strong> We have our Manufacturer of the Month column, wherein we profile an industrial player with a manufacturing base here in Egypt. Manufacturer of the month is dedicated to looking at locally bred or international players to examine the success and challenges that came with being a manufacturer in Egypt, as well as their paths forward. Today, we speak to Oriental Weavers, one of the world\u2019s largest producers of carpet, rugs and related raw materials producers.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n  <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> \u2600\ufe0f <\/strong><strong> TOMORROW\u2019S WEATHER- <\/strong>A brief reprieve before an incoming heat wave: The mercury will peak at 36\u00b0C in the daytime and drop to a cooler 25\u00b0C in the evening, our favorite weather app tells us. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gentlemen. We\u2019re starting off a new week (and a new month, to boot) with a relatively calm news cycle here in Omm El Donia. THE BIG STORY TODAY Healthtech startup Sehatech has closed a USD 850k pre-seed funding round, the company\u2019s CEO Mohamed Elshabrawy told Enterprise. The funding was provided by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":605607,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[633,11542,123,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-605606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-sehatech","tag-startups","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"ec0fdd55-d7e3-4867-ad0f-dfecb1d72a9d","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2019\/8\/104.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[605604],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.f412c732-7713-4bb0-bd10-846a43c233b7.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: Healthtech startup Sehatech closes USD 850k pre-seed round - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: Healthtech startup Sehatech closes USD 850k pre-seed round\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gentlemen. We\u2019re starting off a new week (and a new month, to boot) with a relatively calm news cycle here in Omm El Donia. THE BIG STORY TODAY Healthtech startup Sehatech has closed a USD 850k pre-seed funding round, the company\u2019s CEO Mohamed Elshabrawy told Enterprise. 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We\u2019re starting off a new week (and a new month, to boot) with a relatively calm news cycle here in Omm El Donia. THE BIG STORY TODAY Healthtech startup Sehatech has closed a USD 850k pre-seed funding round, the company\u2019s CEO Mohamed Elshabrawy told Enterprise. The funding was provided by [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2023-09-03T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/104.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"THIS EVENING: Healthtech startup Sehatech closes USD 850k pre-seed round","datePublished":"2023-09-03T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round\/"},"wordCount":1058,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2019\/8\/104.jpg?fit=%2C&ssl=1","keywords":["EnterprisePM","Sehatech","startups","WHAT WE\u2019RE TRACKING TONIGHT"],"articleSection":["WHAT WE\u2019RE TRACKING TONIGHT"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round\/","url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/this-evening-healthtech-startup-sehatech-closes-usd-850k-pre-seed-round\/","name":"THIS EVENING: Healthtech startup Sehatech closes USD 850k pre-seed round - 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