{"id":617417,"date":"2024-03-21T00:00:00","date_gmt":"2024-03-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/21\/two-usd-investments-in-medical-startups-including-first-by-nations-only-female-angel-investment-network\/"},"modified":"2024-03-21T00:00:00","modified_gmt":"2024-03-21T00:00:00","slug":"two-usd-investments-in-medical-startups-including-first-by-nations-only-female-angel-investment-network","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/21\/two-usd-investments-in-medical-startups-including-first-by-nations-only-female-angel-investment-network\/","title":{"rendered":"Two USD investments in medical startups including first by nation\u2019s only female angel investment network"},"content":{"rendered":"

Investors continue to love medical startups<\/strong>, with two USD investments in medical startups announced only days apart. <\/p>\n

TIYE ANGELS MAKES FIRST INVESTMENT- <\/p>\n

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

Where\u2019s the m<\/strong>oney going? <\/strong>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.<\/p>\n

About InCurA: <\/strong>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. <\/p>\n

A first for Tiye: <\/strong>The funding round marks the first ever investment by Tiye Angels \u2014 the country\u2019s first female angel investment network \u2014 which invested a six-figure USD sum itself, Sedky told us. Launched in December 2019 and backed by USAID\u2019s Business Egypt Program, Tiye Angels empowers investors, the majority of whom are female, to invest in female founders. <\/p>\n

PHARMA MARTS SECURES SIX-FIGURE USD FUNDING- <\/p>\n

Healthtech startup <\/strong>Pharma Marts<\/a><\/strong> has received a six-figure USD investment<\/strong> from venture capital firm Acasia Ventures<\/a>, according to a statement (pdf)<\/a>. The statement didn\u2019t disclose how the funds will be utilized. <\/p>\n

About Pharma Marts:<\/strong> 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 \u2014 which accounts for 20% of the total market \u2014 giving them access to over 200 featured suppliers.<\/p>\n

To date: <\/strong>The startup has secured USD 2 mn in funding from local and international VCs.<\/p>\n

Regional expansion ahead?<\/strong> \u201cWe 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,\u201d CEO and co-founder Ahmed Kadous (LinkedIn<\/a>) said.<\/p>\n

ICYMI- <\/strong>Funding for healthtech startups in Egypt jumped 137% y-o-y in 2023<\/a> to USD 36 mn, on the back of investments in Yodawy<\/a> (USD 16 mn), Chefaa<\/a> (USD 5.3 mn), and our friends at primary care company Dawi Clinics<\/a> (USD 8 mn).<\/p>\n","protected":false},"excerpt":{"rendered":"

InCurA will use the funds to develop new products and finalize clinical trials for products that have already been developed<\/p>\n","protected":false},"author":1,"featured_media":617418,"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":[6801,72,7115,1550,8479,95,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-acasia-ventures","tag-enterpriseam","tag-healthcare","tag-healthtech","tag-incura","tag-startup-watch","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"020322af-717f-45e0-b19b-3c40cd89584d","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1887.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s only female angel investment network makes its first ever investment in biomedical startup","related_issue":[617405],"teaser":"InCurA will use the funds to develop new products and finalize clinical trials for products that have already been developed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.aeec2f21-673b-43cf-b7a8-bd83d8e34ff5.mp3"},"yoast_head":"\nTwo USD investments in medical startups including first by nation\u2019s only female angel investment network - 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Loftyinc Capital Management, Kepple Africa Fund, Cubit Ventures, AUC Angels, OQAL Angel Network and Flat6Labs Cairo also participated in the round.\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\/10\/206.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542754,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/16\/orcas-raises-usd-2-1-mn-pre-series-a-round\/","url_meta":{"origin":617417,"position":2},"title":"Orcas raises USD 2.1 mn pre-series A round","author":"enterpriseam admin","date":"16 January 2022","format":false,"excerpt":"EXCLUSIVE- Orcas raises USD 2.1 mn pre-series A round: Egyptian edtech startup Orcas raised USD 2.1 mn in a pre-series A round co-led by our friends at CIRA\u2019s NFX Ventures, and Access Bridge Ventures, according to a statement (pdf). Algebra Ventures, Launch Africa Ventures, Cairo Angels Syndicate Fund (CASF), and\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\/2022\/1\/171.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553561,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/08\/making-it-rain\/","url_meta":{"origin":617417,"position":3},"title":"Making it rain","author":"enterpriseam admin","date":"8 December 2021","format":false,"excerpt":"Cairo Angels announces first close on USD 5 mn micro-VC fund. Angel investment group Cairo Angels reached first close on its Cairo Angels Syndicate Fund (CASF), it said in a statement (pdf) yesterday, without putting a figure on the value of the commitments it locked in for the first close.\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\/254.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575868,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/02\/alex-angels-reinvests-in-mumm-ordera-and-el-gameya\/","url_meta":{"origin":617417,"position":4},"title":"Alex Angels reinvests in Mumm, Ordera, and El Gameya","author":"enterpriseam admin","date":"2 November 2020","format":false,"excerpt":"STARTUP WATCH- Alex Angels plans to make follow-on investments in Mumm, Ordera, and El Gameya as part of its new EGP 100 mn startup fund, Chairman Tarek El Kady said, according to Al Mal. El Kady said the fund would be writing cheques in the EGP 500k to EGP 2\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548141,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/govt-sees-startups-raising-usd-850-mn-this-year-but-its-going-to-be-a-tough-slog\/","url_meta":{"origin":617417,"position":5},"title":"Gov\u2019t sees startups raising USD 850 mn this year, but it\u2019s going to be a tough slog","author":"enterpriseam admin","date":"27 July 2022","format":false,"excerpt":"Egyptian startups should reel in a combined USD 850 mn of investment by the end of 2022, Communications Minister Amr Talaat said yesterday, according to a ministry statement that cites a government projection.How does that target compare? That figure would be 73% higher than the USD 490 mn worth of\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\/2022\/7\/288.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\/617417","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=617417"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617417\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/617405"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/617418"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617417"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617417"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}