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While sectors like fintech tend to attract all the entrepreneurial buzz and excitement regionally, historically nascent sectors like healhtech are finally coming to the forefront.
Backed by ramping up support from the public (Hub71, ADIO, DOH, and others) and private sectors, the local healthtech space is seeing increased activity, interest, investment and innovation.
Here are 5 exciting healthtech startups to look out for in the UAE.
1. Okadoc
One of the top-funded healthtech startups in the UAE, raising a $10 million Series A round in February of 2020, Okadoc offers a telemedicine platform that aims to improve the healthcare experience by seamlessly connecting patients with healthcare providers and doctors.
Okadoc’s platform enables virtual consultations, document sharing, and online chat seamlessly between patients and doctors. The company’s app also allows access to a 24/7 intelligent medical calendar system that helps practitioners, clinics and hospitals optimize their bookings, attract and engage new patients, and build and strengthen their online reputation.
In light of the pandemic, Okadoc has also been providing COVID-19 related services.
The telemedicine vertical is among the most competitive in the healthcare sector at the moment, and Okadoc is one of the premier names in the running.
2. Sehteq
Launched in 2018, Sehteq has positioned itself as a tech-integrated health insurance startup that aims to make insurance accessible, affordable, and efficient.
Through its platform, the startup leverages AI to digitize the supply of insurance plans to individuals and families in the UAE, accelerating and fully automating the sale & post-sale processes. Its customers grew from 20,000 in 2018 to more than 700,000 in 2021.
Sehteq was acquired by Boston-based cloud computing and SaaS startup Cloud Klair last September, marking another notable exit for a MENA startup. The deal is expected to be completed this month.
3. KLAIM
One of the swiftly rising names in the local healthtech space, launched in December of 2020, KLAIM is a software as a service (SaaS) fintech platform aimed at healthcare providers to help minimize their revenue losses due to delayed and rejected payments from insurance companies and predict cash flows by streamlining the medical billing processes.
Raising $1 million in Seed funding during March of 2021, and $1.6 million in Pre-Series A funding in the following September, KLAIM is on a mission to become the leading one-stop-shop specialized healthcare payment network, or the "Stripe/Paypal" of healthcare, as its founders state.
KLAIM was among Hub71’s Q1 2021 cohort of startups, and was selected as one of the winners of the KPMG Private Enterprise Tech Innovator 2021 Competition.
4. selfologi
While the rest of the entrants on this list have all established operations in the UAE, selfologi is yet to launch. Still, this hasn’t prevented this cosmetics-focused startup from securing $17.5 million in funding.
Set to launch soon, selfologi is an online healthtech platform where users can discover, learn about, and book cosmetic treatments. The company has put together an in-house team of globally successful experts to create a vast content hub of knowledge and understanding for the cosmetic treatments industry. The result will be a one-stop-shop for users while simultaneously driving consumer engagement for clinics across the region.
5. Valeo
Another up-and-coming name in the healthtech sphere, Valeo is a personalized health and wellness marketplace offering users access and insight into their wellness data.
Consumers can seamlessly purchase packages through the app, combining ‘at-home’ wellness tests and personalized advice from certified coaches covering a variety of areas such as lifestyle, nutrition, and movement guidance.
Launched in 2021, the company completed a $3 million Seed funding round during July of the same year led by Nuwa Capital, with participation from Global Founders Capital, Global Ventures, and FJ Labs.
Valeo will utilize this early-stage capital infusion to hire talent, scale its platform and complement its offering with new wellness products.
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