Saudi Arabia’s Aumet raises $7 million pre-Series A round
- Saudi Arabia-based healthtech Aumet, has raised a $7 million pre-Series A funding round from AAIC, a Tokyo-based healthcare-focused venture capital, the Swiss PE firm AIJ Holdings, Hamad Ali Sagri family office, Tijah Holdings, Cigalah Group and existing investor Shorooq Partners.
- Founded in 2016 by Ashraf Samhouri, Jamal Abu Samra, Mohammad Issa, Tariq Khader and Yahya Aqel, Aumet is an AI-enabled B2B healthcare platform, that provides tailored solutions to healthcare providers.
- Aumet plans to use the proceeds to develop its AI capabilities further, expand its reach to more pharmacies, and provide greater access to affordable healthcare products.
- The startup claims to have served over 10,000 pharmacies across three core markets, including Saudi Arabia, Jordan and Egypt.
Saudi Arabia-based healthcare technology startup Aumet has raised $7 million from global venture capital and private equity firms in a Pre-Series A funding round.
The new round witnessed participation from healthcare investors and pharmaceutical conglomerates such as AAIC, a Tokyo-based healthcare-focused venture capital, the Swiss PE firm AIJ Holdings, Hamad Ali Sagri family office, Tijah Holdings, Cigalah Group and Shorooq Partners, an early backer of Aumet in pre-seed and seed stages.
Aumet, an artificial intelligence (AI)-enabled business-to-business (B2B) healthcare platform, provides tailored solutions to healthcare providers.
The platform uses predictive analytics to forecast the procurement of products for pharmacies, resulting in significant cost savings and greater efficiencies in the supply chain of pharmacies.
It also facilitates the exchange of data between healthcare providers, manufacturers, and distributors to enable them to make the right decision.
Aumet plans to use the proceeds to develop its AI capabilities further, expand its reach to more pharmacies, and provide greater access to affordable healthcare products for consumers to achieve its promise of “securing the lives of a billion of people by digitalizing the medicine and medical procurement cycle globally."
The startup serves over 10,000 pharmacies across three core markets, including Saudi Arabia, Jordan and Egypt.
Recently, there has been a growth in forward-looking innovations and transformations within the healthcare industry, especially in the Middle East and North Africa (MENA) region.
In February 2023, Egypt-based online healthcare startup Yodawy raised $16 million in a Series B funding round co-led by Delivery Hero Ventures and Global Ventures, bringing its total funding to $24.5 million.
In October 2022, online healthcare platform Vezeeta closed its Series E funding round, bringing its total funds to nearly $90 million. In late November 2022, Cairo-based digital pharmacy platform Grinta raised $8 million in a seed funding round co-led by Raed Ventures and Nclude, carrying $9.5 million of raised funds in total.