Rocket Health Raises a $5m Series A Funding Round To Accelerate Expansion In East Africa
Press Statement For Immediate Release
07 March 2022
Rocket Health Raises a $5m Series A Round To Accelerate Expansion In East Africa.
Rocket Health, a telemedicine and last-mile healthcare provider headquartered in Uganda, is proud to announce the close of a $5 million Series A funding round led by Creadev, an evergreen investment fund backed by the Mulliez Family of French entrepreneurs. Creadev is joined by existing early-stage African investors Grenfell Holdings and LoftyInc Capital Management who participated in the round.
This investment will allow Rocket Health to accelerate its technology roadmap and geographical expansion to the different regions of Uganda and into Kenya in order to make healthcare more convenient, accessible and delivered to patients wherever they are.
“Rocket Health is on a quest to make quality primary healthcare accessible, affordable and convenient to achieve the best outcomes for as many Africans as possible through the exponential power of technology,” said Dr Davis Musinguzi, Rocket Health CEO and Founder. “We’re elated that the investment thesis of Creadev and the Mulliez family resonates deeply with this timeless vision of the Rocket Health founding team. Together, we shall build a sustainable digital healthcare value chain down to the last mile across Africa.”
Rocket health has come a long way since its inception in 2012, we have leveraged digital technologies to offer over 25,000 patients a safe end-to-end medical journey which includes phone consultations with trained and licensed medical doctors, mobile laboratory services, prescription deliveries and in-person clinical care. Rocket Health was founded by Dr Davis Musinguzi together with Dr John Mark Bwanika, Dr William Lugeba and Dr Hope Achiro. The four co-founders have successfully led the company to become the No. 1 Telemedicine provider in Uganda.
“We are delighted to partner with Rocket Health on its mission to make healthcare accessible to the many in Sub-Saharan Africa,” said Pierre Fauvet & Sarah Ngamau of Creadev Africa. “We have been highly impressed by the creativity, tenacity and vibrant culture of the Rocket Health team, which holds an ambitious vision for the future of African primary care. The opportunities are countless, from data analytics to innovative distribution channels. Together with like-minded investors, we look forward to bringing our experience in retail, e-commerce, logistics and digital health to support Davis and his team as they revolutionize access to Healthcare in Africa!”
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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