New Investments

South African Healthtech Startup RecoMed Secures Funding for Digital Healthcare Expansion

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South Africa’s RecoMed, a leading digital healthcare marketplace, has secured a significant investment from Japanese pharmaceutical giant Eisai.

The exact funding amount remains undisclosed, but it marks RecoMed’s largest funding round to date, exceeding their previous investment of $1.45 million in 2021.

RecoMed is a tech-driven platform that connects patients with healthcare providers, streamlining appointment booking and facilitating over 100,000 bookings monthly.

The platform has experienced impressive growth, boasting over 3,000 healthcare providers and witnessing a 150% revenue increase in 2023.

This new funding will fuel RecoMed’s mission to become the first digital platform specifically geared towards breast cancer care.

This initiative comes at a critical time, as breast cancer rates are on the rise in South Africa, potentially due to pandemic-related screening delays.

“We are deeply committed to improving the patient experience and overall health outcomes,” said Sheraan Amod, RecoMed’s CEO.

“This investment aligns perfectly with Eisai’s vision of leveraging digital tools to enhance patient care. We will use these funds to improve our technology, raise platform awareness, and build a robust digital healthcare journey for patients, with an initial focus on breast cancer.”

Eisai’s investment reflects their commitment to utilizing digital platforms to optimize patient care journeys throughout Africa.

Shin Ujiie, Eisai’s vice president of corporate strategy, emphasized the company’s goal to simplify healthcare access.

“We believe RecoMed’s innovative approach positions them as the ideal partner for this endeavor,” he concluded.

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