Healthcare startup Aumet raises $1.25M Seed funding round
Aumet, a B2B e-commerce marketplace for healthcare providers and distributors, has successfully closed its Seed round of $1.25m from Right Side Capital, TechStars, and Plug and Play.
• Aumet aggregates bulk orders from healthcare providers to get discounted prices from manufacturers and deliver the goods door-to-door.
• They also automate assigning distributors to medical manufacturers, using the Saurus, Tagging Crawler, and Matching Algorithm which matches between distributors and manufacturers.
• The funds will go towards automating the ordering process between buyers (healthcare providers, distributors) along with the medical manufacturers, and building the e-commerce platform. Additionally, onboarding 10,000 medical manufacturers to use Aumet's platform, as well as buyers from GCC countries.
CEO and Co-Founder Yahya Aqel said, "Normally, creative ideas come from the West to the East, Aumet is the first e-commerce between medical manufacturers and buyers starting from the Middle East and scaling to the West".
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Read the full press release below.
Aumet, a B2B e-commerce marketplace for healthcare providers and distributors, has successfully closed its Seed round of $1.25m from reputable VC Right Side Capital, TechStars, and Plug and Play.
Headquartered in the USA (with a subsidiary in France-Caen Forum digital, Jordan-Amman Business Park, and recently UAE-Abu Dhabi Hub71), Aumet aggregates bulk orders from healthcare providers to get discounted prices from manufacturers and deliver the goods door-to-door. They also automate assigning distributors to medical manufacturers, using the Saurus, Tagging Crawler, and Matching Algorithm which matches between distributors and manufacturers.
Aumet is growing 20% MOM, invoicing $30,000,000 in the 2nd quarter of 2020, and is growing from 16 to 37 employees, coming from 15 different nationalities.
Co-Founder and CEO, Yahya Aqel has a bachelor's degree in Biomedical Engineering, with 13 years of experience as an entrepreneur in the medical supplies industry. Co-Founder and CPO Mohammad Issa has co-founded 3 startups, two of those focusing on graphic designing for clients from all over Jordan and the MENA region. The third company was a peer to peer tutoring for university students in Jordan. Co-Founder Jamal Abusamra has over 6 years of experience as Regional Area Manager of multi-international medical manufacturers, such as Pennine Healthcare in the United Kingdom and Sengewald in Germany, increasing their sales in the MENA region.
Aumet has been selected twice (2017, 2019) by The World Economic Forum as one of the best 100 startups that form the 4th industrial revolution. TechCrunch also selected Aumet as one of their favorite startups from 500 Startups' 19th class, as well as one of their top picks from Techstars demo-day last April.
Yahya Aqel commented, "Normally, creative ideas come from the West to the East, Aumet is the first e-commerce between medical manufacturers and buyers starting from the Middle East and scaling to the West".
Vijay Tirathrai, Managing Director of Techstars added, "Aumet is a leading healthcare e-commerce marketplace in MENA, led by a dynamic CEO. The healthcare sector is rapidly being disrupted and experiencing digitization. We are excited to invest in such a space."
The funds will go towards automating the ordering process between buyers (healthcare providers, distributors) along with the medical manufacturers, and building the e-commerce platform. As well as onboarding 10,000 medical manufacturers to use Aumet's platform, increase the SKU's to reach 50,000 SKUs, and onboard buyers from GCC countries.
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Despite the current crisis, H1 2020 has seen $659M invested in MENA-based startups, which is already 95% of total funding full-year 2019. Discover more data, including country and industry trends by purchasing our H1 2020 MENA Venture Investment Report.