Rwandan Health-Tech Startup Kasha Raises $21 Million in Funding Round
Kasha, a female-led African health-tech startup based in Rwanda, has made a significant breakthrough in the often overlooked niche of women’s health care. Recently, the company successfully secured a substantial Series B investment of $21 million, signaling an escalating interest in addressing menstrual and reproductive health issues within the African healthcare startup ecosystem.
Kasha’s Focus on Women’s Health
Founded in 2016 by CEO Joanna Bichsel, Kasha operates as a digital retail and end-point distribution platform with a distinct emphasis on women’s health. The platform provides efficient distribution of pharmaceuticals and fast-moving consumer goods (FMCGs) to a diverse clientele, including individual consumers, small-scale resellers, hospitals, pharmacies, and clinics. Key products offered by Kasha include contraceptives, sanitary pads, and pregnancy tests.
Beyond FMCG: Expanding Health Services
While Kasha’s product range intersects with the broader FMCG industry, its core competency lies in health services. The company has extended its offerings to include telehealth and credit solutions, bridging the gap between consumers and healthcare providers. These services not only enhance access to medical professionals but also provide inventory credit to pharmacies and clinics.
Ambitious Vision for Africa
With the recent $21 million funding boost, Kasha is firmly set on becoming Africa’s premier digital platform for end-point health access. The company’s commitment to serving the vast African market is evident, as it plans to expand its operations into South Africa and West Africa later this year.
Impressive Growth Trajectory
Kasha’s growth trajectory has been nothing short of explosive. Since closing its Series A funding in 2020, shortly after expanding into Kenya, the company’s annual recurring revenue has seen an astounding 50-fold surge. This significant progress has resulted in a total funding amount of $26 million, including contributions from various investors in its recent Series B funding round.
Support from Prominent Investors
The Series B funding round was led by Knife Capital, a $50 million Pan-African fund, demonstrating the widespread recognition of Kasha’s potential impact. Several other notable investors, including Finnfund, DFC, Tim Koogle (former Yahoo CEO), Beyond Capital Ventures, Altree Capital, Bamboo Capital’s BLOC Smart Africa Fund, and Five35 Ventures, also contributed to the success of Kasha’s funding round. With this strong support, Kasha is poised to revolutionize women’s health care across the African continent.