Nabta Health, the Middle East’s only hybrid healthcare platform dedicated to elective, preventive women’s healthcare, 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 notable 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 Nabta Health’s product portfolio to include a number of B2B SaaS offerings, and to expand its market share within the UAE. Over the last 12 months, Nabta Health has launched the woman-centric, goal-oriented Nabta App with Aya, established an ecosystem of health and wellness providers through a B2C marketplace, signed exclusive distribution agreements for MENA with several high profile femtech companies including viO HealthTech (previously: Fertility Focus), and established partnerships with some of the leading value- and risk-based healthcare providers in the region.
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 market is still very, very nascent in the emerging markets. Fewer than 1% 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.”
A selection of Nabta Health’s existing angel investors from its Pre-Seed round also participated in the Seed round.