Ilara Health, a health-tech startup based in Kenya that provides private clinics with diagnostic devices and pharmaceutical products, has raised $4.2 million in a mix of debt and equity funding. This capital infusion will support its expansion efforts in East Africa and its mission to enhance healthcare accessibility.
The funding round included a $2.5 million equity investment led by DOB Equity, with contributions from the Philips Foundation, and sustained backing from existing investors such as AAIC Investment, Angaza Capital, Black Pearl Investments, and Perivoli Innovations. Additionally, Ilara Health secured debt financing from entities like Alphamundi, Kiva Capital, and Boehringer Ingelheim, bringing its total funding to $11.7 million across debt, equity, and grants.
Launched in 2019 by Emilian Popa, Maximilian Mancini, and Sameer Afzal Farooqi, the company initially offered diagnostic device leasing to clinics. It has now broadened its portfolio to include pharmaceuticals and essential medical supplies like hospital furniture on credit to healthcare centers.
Ilara Health aims to serve Kenya’s growing private healthcare sector, which caters to insured individuals and those who can afford out-of-pocket expenses, providing a viable alternative to the often overburdened public healthcare system.
Ilara Health reports that it currently serves 3,000 clinics throughout Kenya, a significant reach considering the country has an estimated 15,000 operational clinics. These clinics, often nestled in residential areas, offer convenient access but come with higher costs compared to public healthcare facilities, which sometimes suffer from equipment malfunctions that can hinder service delivery.
To address these challenges, Ilara Health has formed partnerships with leading manufacturers, such as Butterfly Network, to supply clinics with affordable portable ultrasound devices. This move not only makes scanning services more accessible to patients but also enhances healthcare delivery closer to home. Additionally, the startup offers a practice management software on a subscription basis for $6.25 per month, aimed at digitizing clinic operations and enhancing business management for its partners.
Looking forward, Ilara Health is focusing on expanding its reach to patients via the B2B health and occupational service. This initiative will involve partnering with employers to provide their employees with access to a range of outpatient services at Ilara’s partner clinics, further broadening its impact on healthcare accessibility and efficiency.
