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Kenya’s Ilara Health, A Healthtech Startup Receives US$3.75M in Series A Funding

Ilara Health

The Kenya-based health tech startup, Ilara Health has raised $3.75 million in a Series A funding round led by TLcom Capital with contribution from DOB Equity, Global Ventures, and Chandaria Capital

The new funding raised by Ilara will be used to expand the startup’s diagnostic reach across Africa and the development of its innovative integrated patient health management platform. 

Emilian Popa, the CEO, and co-founder of Ilara Health explains that the funding is critical to their expansion plans and providing inclusive healthcare to everyone. 

“This funding round allows us to significantly grow our on-the-ground presence and invest resources into our technology capabilities. In just one year of operation, we have seen the incredible impact our Ilara Health platform has had in delivering improved services across maternal, metabolic, cardiovascular, and infectious disease care.” – he said

Ilara Health
Team of Ilara . image source – facebook.com

Founded in 2018, the Kenya-based health tech startup is focused on providing essential, affordable, and life-saving diagnostics to African consumers. Ilara Health provides access to life-saving tests and screenings that assist local medical provides to improve the quality of their healthcare service.

SEE ALSO |  Valenture Institute, S.A.'s Global Online High School, Secures $7M Investment from GSV Ventures, A Coursera Investor

Using technological advancements, Ilara Health is able to generate data from the diagnostics tests to create a ‘closed-loop patient management system’ and provide analytical insight into dominant local diseases across underserved communities. 

Ilara Health has partnered with over 200 clinical facilities in outlying areas of Nairobi and Kisumu and plans to expand across wider Kenya and a new East African market within the next 12 months.

Read about another health tech from Kenya that received $20,000 to tackle COVID-19 spread.


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

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Funding

Gro Intelligence: Startup Founded by Sara Menker Secures $85M in Series B Investment

gro intelligence

Gro Intelligence, founded in Nairobi, with offices in both Nairobi (Kenya) and New York (USA) announces that it has received an US$ 85 million in series B funding from Intel Capital and Africa Internet Ventures.

The Africa Internet Ventures as we understand, is a strategic partnership between TPG Growth and EchoVC. The other participating funding houses into Gro Intelligence’s latest round of investment include the family offices of Eric Zinterhofer and Ronald Lauder.

Investments also came DCVC and GGV Capital who were previous investors of Gro Intelligence. The series B funding also attracted new VC players, namely Dick Parsons, Rethink Food and the Schusterman Family Investments, among other various strategic family offices.

Gro Intelligence we know is an AI (artificial intelligence)-powered insights company that provides decision-making tools, solutions and analytics to the food, agriculture and climate economies and their participants. The company at the moment incorporates over 40,000 data sets and processes north of 650 trillion data points.

Their customer base include governments, financial institutions, agricultural input companies, retailers, food and beverage firm and others.

gro intelligence
Image credit: Grow Intelligence facebook

The Ethiopian born and elated founder and CEO of Gro Intelligence, Sara Menker, explains that, food security and climate risk represented an existential global-sized opportunities for the company’s AI-powered decisions and insights platform. And by this, they see a tremendous need for the market knowledge provided by the Gro Platform.

SEE ALSO |  Damu Sasa Receives US$20K from Villgro Africa to Enhance their COVID-19 Efforts

She further states,

“Our customers have come to rely on Gro as a unique source of actionable data-driven insights about our food supply and models to measure and manage associated climate change risk to physical and financial assets across the globe. We are absolutely delighted to welcome our new investors and continue to be grateful to our existing investors for their support.”

What the latest round of funding will be used for?

The report suggests that, the investment will be used to accelerate the growth and global adoption of the Gro Intelligence’s platform, which will be raising their machine-learning capabilities and delivering localized insights on climate risk, agriculture and food.

According to Trina Van Pelt, the Senior Managing Director of Intel Capital,

“Gro Intelligence is one of the most exciting AI companies and is tackling two of the world’s biggest challenges: food security and climate risk. Their software-based platform will drive compute-powered cross-border knowledge to surface meaningful insights and enable better informed agricultural decisions.”

Further adding that, Intel Capital is really excited to co-lead the investment round because Gro Intelligence’s technology aligned with their stated mission of unleashing the power of data for improving our society.

SEE ALSO |  Bolt Raises US$182M for Expansion Across Europe & Africa

Gro Intelligence, for Yemi Lalude, the Managing Partner of TPG Growth Africa, has had a remarkable journey so far and demonstrated the growing importance of AI in driving a more sustainable food supply in the world. Proudly commenting that, their oufit was proud to have supported the company from its beginnings in Nairobi to the forefront of today’s efforts to make companies and institutions across multiple industries around the world more resilient to climate change and climate risk.

As fate may have it, both Intel Capital and TGP Growth led Gro Intelligence’s series A round funding in 2017.

“With its AI-powered platform, Gro Intelligence is solving, at scale, two of the world’s most pressing problems – climate risk and food security,” said Julia Paliare, Managing Director at the Family Office of Ronald Lauder.

She went to extol Sara’s vision, leadership and experience, along with the remarkable technology and team she has assembled. For her, Gro’s founder has positioned the company for accelerated growth at a time when these issues are of utmost importance to the world.

SEE ALSO |  Gro Intelligence: Startup Founded by Sara Menker Secures $85M in Series B Investment

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

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