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Arabic digital health market player Altibbi raises USD 6.5m

Altibbi, an Arabic telehealth platform has raised USD 6.5 million in a new investment round from its lead investors MEVP (Middle East Venture Partners) and DASH Ventures in tandem with new investors including Endeavor’s Catalyst Fund, TAMM, RIMCO Investments, and other unrevealed names. The company said it would use the proceeds of this latest funding to expand in the regional digital health market by acquiring a larger consumer base and exploiting attractive business opportunities.Altibbi aims to grow its presence and penetrate Middle east and North Africa digital health market through innovative product offerings. The company further intends to enlarge its Arabic medical content library of 1.5 million pages and develop its free Q&A platform as well. Altibbi’s directory includes about 12,000 Arab doctors who offer their services and answer a combined 1000 daily questions on the Q&A platform. Both the aforementioned features are offered online as well as through the company’s popular mobile app.

As for the newly acquired capital, the startup plans to grow its presence in digital health industry and work towards making its platform more robust. On the telehealth side, the company plans to boost its real-time tele-health services and unlimited access to local doctors. It will also be working toward developing integrated industry-specific solutions for growing businesses in Middle east and North Africa digital health market.

The round which raised USD 6.5 million for Altibbi depicts investors’ trust in Altibbi’s ability for developing digital health in the region where the government spends only 8% of the budget on healthcare in comparison with 17% spent by the OECD countries.

Over past few years, the rapid growth of companies like Altibbi in the Arab world, clearly depicts the robustly growing demand for innovative healthcare solutions that are able to solve real problems in the region. The company has further enhanced its portfolio of telehealth solutions by partnering with Uber to offer the riders a free trial of its telehealth services and also make the service available as a perk for the drivers.

Ojaswita Kutepatil: