Company says seed financing will be used to expand product portfolio and to expand market share in the UAE
Sophie Smith, CEO and founder of Nabta Health.
Nabta Health, the only hybrid healthcare platform dedicated to elective, preventive women’s healthcare in the Middle East, has raised $1.5 million in a new angel investment round.
The funding round was led by Basim Anwer of Regionality Group of Companies, with participation from angel investors including Priya Oberoi, founding general partner of Goddess Gaia Ventures, Dr Sarper Tanli, operating partner of TVM Capital Healthcare, and Nadia Mannell, founding general partner of Seed South Capital.
The femtech firm’s seed financing will be used to expand its product portfolio to include a number of B2B offerings and to expand its market share within the UAE.
Femtech (or female technology) is a term applied to a category of software, diagnostics, products, and services that use technology often to focus on women’s health.
This sector includes fertility solutions, period-tracking app, pregnancy and nursing care, women’s sexual wellness and reproductive system healthcare.
Over the last 12 months, Nabta Health said it has launched the Nabta App with Aya, established an ecosystem of health and wellness providers through a B2C marketplace and signed exclusive distribution agreements for MENA with several femtech companies.
Sophie Smith, CEO and founder of Nabta Health, said: “We are super proud to have closed our seed funding round. We are optimistic about Nabta Heath’s growth potential in the UAE in the near-term and will be focusing our energy on our business-to-business offering, which is due to launch officially in the first-half of the year; as well as elevating further our product offering on our consumer-dedicated platform.
The femtech sector includes fertility solutions, period-tracking app, pregnancy and nursing care, women’s sexual wellness and reproductive system healthcare.
“The femtech market is still very, very nascent in the emerging markets. Fewer than 1 percent of femtech companies target countries such as the UAE and Saudi, despite there being a sizeable, largely untapped market opportunity and a real human need.
“Nabta Health is in a unique position now to be the leader in femtech health and wearables in the GCC, and we are excited with what the future holds for us.”
Basim Anwer, founder, Regionality Group of Companies, said: “The global femtech market is a $22 billion market projected to grow exponentially in the next 5 years. With millions of women in the region and large gaps in affordable healthcare for women, the real question was with whom and when to invest in femtech. This question was answered with the foresight of Sophie Smith and the hybrid healthcare model of Nabta Health.”
Priya Oberoi, founding general partner, Goddess Gaia Ventures, added: “I invested in Nabta Health because I believe we are doing something with a higher purpose, to meet the needs of an essential and underserved market. I love Sophie’s gumption and tenacity, and it is what will drive Nabta Health forwards during this next phase of growth.”
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