UAE-based Alma Health raises $10mn in Series A round for expansion

By Shilpa Annie Joseph, Official Reporter
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Alma Health secures fund
Rep. Image | Chokniti Khongchum @ Pixabay

UAE-based direct-to-patient digital healthcare company Alma Health has raised $10 million in Series A funding to expand regionally.

Alma Health also intends to continue its mission to become the leading direct-to-patient healthcare provider specialized in chronic condition management.

The $10 million Series A round was led by Knuru Capital and Hambro Perks Oryx Fund, with participation from e& Capital, S3 Ventures, Pinnacle Capital, and Khwarizmi Ventures. KCP Capital acted as a financial advisor to the company on its capital raising.

Mr. Khaldoon Bushnaq, Co-Founder of Alma Health, said that, “Alma Health is a vanguard digital healthcare provider on a mission to transform the lives of millions of people living with chronic conditions. Through the new round of funding Alma Health will accelerate its mission and its commitment to deliver improved clinical outcomes for its patients across the region.”

The company currently operates in the UAE, Saudi Arabia, and Egypt, and it plans to use the new funding to accelerate its growth in Saudi Arabia, enter new markets, and continue to hire top talent.

“Through this Series A investment, we are confident in Alma Health’s ability to disrupt the industry and drive positive change. We look forward to supporting their journey as they reshape the future of healthcare in the MENA region,” remarked Mr. Ali Qaiser, Partner, Hambro Perks Oryx Fund.

Mr. Tariq Seksek, Co-Founder of Alma Health, stated that, “Alma Health is truly blessed to have touched and improved the lives of many people living with chronic conditions in the MENA region. This new milestone is further validation of the need to continue to innovate on our end-to-end health-tech solution with the patients being at the heart of the experience.”

“Alma Health’s fully-verticalized approach to healthcare delivery is transforming the industry’s approach to chronic illness management. Alma Health catalyzed our bet on the rapidly evolving healthcare industry in the GCC because of the caliber of its leadership team and technology,” commented Mr. Alain Dib, Managing Partner at Knuru Capital.

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