May 27

Nigerian Healthtech Startup, CribMD, Closes $2.6 Million Seed Round for Product Growth and Team Expansion

By Oluwanifemi Kolawole

Founded in June 2020, Nigerian healthtech startup, CribMD has closed a $2.6 million seed round led by US-based VC, Sputnik ATX; Swedish accelerator, Norrsken; and mass media company, The Guardian Nigeria. This fund brings the startup’s total investments to $2.85 million.

At launch, the founders — Ifeanyi Ossai (CEO), Ngiri Michael (CTO), and Lorna Mae Johnson (CFO) — bootstrapped a $250k pre-seed round to get the business running. In February 2021, it raised an initial investment of $100k for this round from Sputnik ATX — a US accelerator.

Ossai told Techpoint Africa that they exceeded their $2 million target for this round because of investors’ interest.

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Source: Techpoint Africa (link opens in a new window)

Health Care, Investing, Technology
accelerators, startups