{"id":605645,"date":"2023-09-04T00:00:00","date_gmt":"2023-09-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks\/"},"modified":"2023-09-04T00:00:00","modified_gmt":"2023-09-04T00:00:00","slug":"sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/04\/sehatech-closes-usd-850k-pre-seed-round-plus-nagaty-invests-in-nocks\/","title":{"rendered":"Sehatech closes USD 850k pre-seed round. PLUS: Nagaty invests in Nocks"},"content":{"rendered":"

Planet Startup is showing signs of life this morning: <\/strong>After what felt like a very slow summer for fresh funding to our startup scene, two local firms \u2014 one in health ins. and the other in real estate \u2014 bring news of recent raises. <\/p>\n

Sehatech <\/strong> secures USD 850k in funding: <\/strong>Local healthtech startup Sehatech<\/a> raised USD 850k in a pre-seed round from VC firm A15 and Beltone Financial\u2019s venture capital arm, Sehatech CEO Mohamed Elshabrawy told Enterprise yesterday. The company declined to discuss specifics of the transaction or of its current operational performance. <\/p>\n

About Sehatech: <\/strong>Sehatech is a third-party administrator (TPA), an organization that processes ins. claims on behalf of health ins. firms. Its proprietary tech automates claims and billing management between ins. companies and healthcare providers, helping insurers cut losses caused by human error, inefficiency, and fraud, the company said in a<\/a> press<\/a> release (pdf)<\/a>. <\/p>\n

Where the money\u2019s going: <\/strong>The company will use the fresh capital to \u201cexpand its team, accelerate product development, and enhance customer service,\u201d according to the press release. <\/p>\n

What they said: <\/strong> \u201cDigitizing the TPA industry will have a significant social impact on the way mns of patients consume healthcare services, making healthcare more accessible and affordable for everyone,\u201d Elshabrawy said in the press release. <\/p>\n

Advisors: <\/strong> Alliance Law Firm provided legal advice to Sehatech.<\/p>\n

\n

\n

Nagaty backs Nocks: <\/strong>Serial founder Mohamed \u201cNagaty\u201d Aboulnaga (LinkedIn<\/a>) has been appointed vice-chairman of high-end real estate startup Nocks<\/a> after making an equity investment in the company, according to an emailed statement. Nagaty acquired a 10% stake in the firm in a USD transaction, company founder and CEO Mahmoud Bekheit told us yesterday, declining to disclose the value of the transaction.<\/p>\n

Nocks: <\/strong>The company\u2019s app allows house hunters to buy directly from de velopers and receive reward tokens worth 1% or more of their purchase in return, which they can then redeem with partner companies, according to the startup\u2019s website<\/a>. Nocks was founded by Bekheit (LinkedIn<\/a>) last year. <\/p>\n

The investor <\/strong> : <\/strong> Nagaty is co-founder and CEO of regional online marketplace Exits (acquired by his M&A advisory outfit Pie Consulting), a co-founder of Halan (now MNT-Halan), and has held positions at Careem, Fawry and Klivvr. He has also made investments in grocery and bakery delivery startup Breadfast and customer loyalty platform Gameball.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Mohamed \u2018Nagaty\u2019 Aboulnaga invests in real estate startup Nocks<\/p>\n","protected":false},"author":1,"featured_media":605646,"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":[7258],"tags":[1066,11547,812,72,503,7115,1550,181,11549,11548,8962,83,11542,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-605645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-a15","tag-alliance-law-firm","tag-beltone-financial","tag-enterpriseam","tag-financial-services","tag-healthcare","tag-healthtech","tag-insurance","tag-mohamed-aboulnaga","tag-nocks","tag-proptech","tag-real-estate","tag-sehatech","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"1a916859-498d-4a55-a6e6-c4531a54cbe6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/121.jpeg","photo_position":"above","homepage_title":"Egyptian healthtech startup Sehatech closes USD 850k pre-seed round","full_issue_title":"Sehatech closes USD 850k pre-seed round. 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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. 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The company had previously raised USD 400k in seed funding in 2019.About Raseedi: The telecom app launched\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/210.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/605645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=605645"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/605645\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/605634"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/605646"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=605645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=605645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=605645"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=605645"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=605645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}