Online Healthcare platform Ailaaj raises $1.6M in Seed Funding
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Ailaaj, Pakistan’s first full-stack digital healthcare platform offering personalized end-to-end patient care services, has raised $1.6M in its seed round. The funding was led by JS Group (Pakistan’s leading financial services conglomerate); other investors that took part in the round included Fazal Din Group, Leonine Tech Ventures & private equity investors from East Asia.
Founded in 2020, as a full-stack healthcare startup, Ailaaj consolidates a platitude of healthcare offerings through its vertically integrated primary care platform powering a personalized, end-to-end healthcare experience from diagnosis by PMDC qualified doctors, to delivery of medication, corporate health & wellness, to ongoing care into one seamless offering.
As recorded in our August 2021 Venture Investment Dashboard the Healthcare industry in Pakistan closed the 5th highest amount of deals, raising 1% of all funds raised in the country over the month of August. This is to say that the Healthcare sector has been witnessing modest strides since the beginning of the year, with investments backing innovative healthcare startups like Marham and Sehat Kahani.
Ailaaj was formed by the acquisition of telehealth startup AugmentCare and online pharmacy Sehat.com.pk. Both startups were incubated by the Fazaldin Group; a pioneer in Pakistan’s healthcare sector for over 70 years.
Patients will no longer have to engage with multiple service providers to address their needs. Through one platform, Ailaaj’s users experience a highly tailored patient experience modeled on international standards. Ailaaj Founder Hyder Mumtaz highlighted “I moved back to Pakistan with the realization that the current system in the country creates an imbalanced relationship between patients and healthcare providers. There is a lot of confusion around how people can find the best care that they need. With Ailaaj, everything we build is centered around giving back control to our customers through highly personalized care services. An end-to-end solution that addresses all patient needs on one platform while connecting them to healthcare experts and the products they need for better care.”
Ailaaj’s personalized patient care seamlessly bridges experts and the products they recommend. Today, addressing medicine, Ailaaj is tapping into Pakistan’s $4B pharmaceutical sectors, ranked among the top three fastest-growing markets in the world; a natural progression will be to leverage key opinion leaders through social commerce to expand into the baby & beauty sectors.
With a population 221M, Pakistan currently has 1 doctor to every 1300 Pakistanis, ranking 115 globally while a meager 1.2% of the GDP is spent on healthcare by the government. This essential need is one of the primary reasons JS VC invested in Ailaaj. Salaal Hasan Associate Director of JS Group concluded “Investing in technology that fills an institutional void, where the customer maintains a long-term positive economic relationship with the product, platform or service are at the core of our belief. Following the acquisition and merger, as witnessed globally in comparative markets, we believe that Ailaaj shall be best placed to fulfill the void across the digital health value chain by using efficient technology.”
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