As Rocket Health celebrates the close of a $5m fundraising round led by Creadev, we realise that you may have questions about the significance of this development.
Below are answers to some key questions you may have.
Rocket Health is a medical service provider that offers convenient access to medical practitioners via voice call, chat or the internet. Rocket Health has a 24-hour call centre with trained and licensed medical doctors who offer medical advice or consultation over the phone. In the event that the doctor recommends a laboratory test, a lab technician will come to your location to draw samples from you, bring them to the Rocket Health lab for testing, share the results with the doctor who later calls to explain them in detail. A copy of the results is shared with you via email or WhatsApp. If a prescription is given, a Pharmacy technician is dispatched to deliver it to your location. In addition to that, Rocket Health also has a clinic for in-person clinical care. The clinic also extends vaccination services for both adults and children to your location.
Series A funding is a type of equity-based financing to help raise capital for a startup. This means that a company secures the required capital from investors by selling the company’s shares. The funds raised are primarily used to ensure the continued growth of a company.
Rocket Health has raised $5 million in Series A funding.
The investment will enable Rocket Health to continue providing best in class support and services for its fast-growing customer base. The funds will facilitate a geographical and technological expansion that will extend Rocket Health services beyond Kampala into other major towns across the country, and across the border into Nairobi, Kenya. In addition, Rocket Health will advance technology and interoperability to deliver more user-friendly and personalized digital tech on the market.
Yes. Rocket Health will be setting up branches in Wakiso, Mukono, Mbarara and Gulu and launch in Nairobi Kenya in the next 12 months.. These branches will continue to offer best-in-class medical care which also includes access to a variety of specialists, mobile laboratory services, pharmacy deliveries and home vaccination services.
Rocket Health is aiming for an equity crowdfunding round soon that will make it possible for you to make equity investments as low as $100 in the company. We shall keep you posted on the new developments.
We believe that prices for Rocket Health services are relatively low. A consultation with a medical doctor over the phone costs about $3 (UGX 10,000). The very least on the market. However, the investment will enable us to scale the capacity of our call centre agents and delivery teams in order to reduce turnaround time.
About Rocket Health
Founded in 2012, Rocket Health is the number one telemedicine player in Uganda, offering an end-to-end healthcare experience to over 25,000 individual patients. Rocket Health’s solution leverages technology to provide 4 integrated services – 24/7 teleconsultations, medicine delivery, home sample collection for laboratory diagnostic testing and physical specialist clinic consultations – with a focus on quality, convenience and affordability. By creating innovative digital health solutions, Rocket Health aims to improve healthcare for all in Africa.
About Creadev Africa
Creadev Africa is partnering with visionary entrepreneurs who are developing innovative solutions facilitating access to essential goods and services to the many across Africa.
Creadev Africa is part of Creadev, a global long-term investment firm controlled by the Mulliez family, founders of one of the largest Business-to-Consumer retail platforms in the world (Auchan, Decathlon, Leroy Merlin, …) Since 2002, Creadev has invested over $2 billion from venture to growth equity and buyout. With offices in Paris, Nairobi, New York and Shanghai, Creadev invests in companies well positioned to scale and become worldwide champions in their respective sectors.
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