Connect with us

Funding

DilenyTech in Egypt Secures US$160K Equity-Free Funding

DilenyTech

Giza-based healthtech company, Dileny Technologies LLC – DilenyTech – reports it has recently raised $160,000 equity-free fund from the Information Technology Academia Collaboration (ITAC), a program affiliated with the Information Technology Industry Development Agency (ITIDA).

DilenyTech LLC will be using the newly raise finance to expand their AI-Enabled platform to improve and expedite breast cancer detection. As the report indicates, the fund was only secured a few months after the healthtech startup gained a US patent for a novel AI-enabled image analysis technology.

The company was started in 2018, and is one of the fast-growing health tech startups in Africa and around the MENA region, specializing in AI and medical imaging analysis.

DilenyTech has since been rated in the Decoding Health Challenge organized by Health 2.0 Egypt and UNESCO in December 2019 and is sponsored by Etisalat Misr and Novartis. It was recognised among the top 50 AI startups to watch in Africa in 2020, in a Baobab Insights report.

DilenyTech
Breast Screening by the AI-Powered platform

Globally, breast cancer has been the second most common type of cancer with about 2 million new cases every year. 400 million plus breast examinations are conducted annually while there are insufficient radiologists to report those examinations and notify patients in a timely
manner.

SEE ALSO |  Aerobotics: SA Based Data Analytics Startup Secures US$17M Series B Fund Led by Naspers

It is for this reason that in a press statement, Dr. Ahmed Ehab Mahmoud, founder of DilenyTech,

“DilenyTech aims to revolutionize breast cancer screening and diagnostic workflow via providing innovative AI assistance for more accurate breast cancer detection and expedited reporting.”

He is the startup’s Chief Innovations Officer who is optimistic that, thousands of healthcare professionals could access their online platform anytime and anywhere and this should all reduce patients’ suffering due to long waiting time as well as inaccurate diagnosis.


Have you recently launched your startup, raised funding or any news about your company or organization? Email your story to editor@thespiritedhub.com.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

five − 5 =

Funding

ImaliPay: Nairobi Fintech Startup Raises Pre-Seed Funding Led By TEN13

ImaliPay

ImaliPay, a fintech startup helping African freelancers reach their financial goals has raised an undisclosed amount in pre-seed funding from the Australian venture capitalist, TEN13, reputed for investing in top-tier start-ups.

The other investors who participated in this pre-seed round include, Finca Ventures, Optimiser Foundation, Mercycorps Ventures, Changecom, and super angels from Norway, Nigeria, UK and Kenya.

ImaliPay is an embedded finance platform that provides and offers tailored financial products that promote the inclusion of gig economy platforms and workers across Africa.

According to ImaliPay, the primary aim of this newly raised funding is to expand and accelerate their growth and footprint in Nigeria, South Africa and Kenya to be a one-stop-shop for gig workers’ financial needs on the continent.

The backing of ImaliPay by TEN13 is on the back of recent chain of events that has elevated the visibility of Africa’s fintech startup scene.

Commenting on the deal, Managing Partner of TEN13, Stew Glenn, said,

“We believe this is a perfect opportunity to introduce our growing international network of investment professionals and investors to one of the most exciting emerging fintech companies in Africa.

ImaliPay in 2020 was co-founded by Zimbabwe’s Tatenda Furusa and Sanmi Akinmusire a Nigerian, who were former colleagues at the leading payments company Cellulant. The fintech company thinks the investment from the venture capital has significant benefits.

SEE ALSO |  Connected Analytics Secures 7 Figure Funding Led by Betatron Venture Group

In a statement released to the press, Tatenda Furusa said,

It’s a great opportunity for investors to participate in the fintech revolution and a fast-growing segment. Our vision at ImaliPay is to advance financial health and inclusion for gig workers who struggle to manage and access flexible financial services that are often only available to traditional SMEs.

The growth in the African gig workforce is being pushed by the growth in digitization and smartphone penetration. Gig workers constitute a significant proportion of the economy within ImaliPay’s target markets and this market segment is expected to grow rapidly over the next decade.

ImaliPay Users

ImaliPay offers gig workers a one-stop-shop of financial services such as the ability to seamlessly save their income and receive in-kind loans through a “buy now, pay later” model tied to their trade.

Bolt drivers in Kenya can now request a fuel loan and payback after 3-4 days, this allows them to get more work done and Safeboda riders in Nigeria can now buy on credit bike parts, fuel, and smartphones to keep their gig moving and reduce any downtime.

SEE ALSO |  ImaliPay: Nairobi Fintech Startup Raises Pre-Seed Funding Led By TEN13

Other products to be offered off the platform include insurance and investment options to foster a safety net for this hard-working but vulnerable part of the population.

Continue Reading

Got News for us?

Submit Press Release/News: Have you recently launched your startup, raised funding or any news about your company? Email us at editor@thespiritedhub.com. We will be happy to share your story with the world!

order now

happening in Africa