NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

There’s no denying the growth of health tech globally over the past three years thanks to the pandemic. The event has accelerated the use of telemedicine, virtual care and drug delivery, thus fuelling investor interest in the sector.

Investment has also trickled down to Africa, with large checks going into growth-stage startups. Lagos- and Texas-based digital healthcare provider Reliance Health is the latest beneficiary and is doing so in grand style, raising $40 million. The Series B round is the largest of its kind in African health tech.

Reports say health tech in Africa should reach a market value of over US$11 billion by 2025, and Reliance Health is looking to play a pivotal role in the continent reaching that capitalization.

Photo courtesy of Health Policy Plus.