Kuwaiti Healthtech Eyes Gulf Expansion Following $1.3M Investment
The startup will also look to roll-out an ambitious new business plan that will look to more efficiently treat chronic conditions, as well as mental health.
Kuwaiti healthtech, Sihaty, has announced that it has closed $1.3 million in a Pre-Series A funding round that included participation from Doha Tech Angels, Rasameel Investments and undisclosed regional angel investors.
The investment also included follow-on participation from The Taken Seat Fund, which was established by venture builder, The Taken Seat, which itself gave birth to Sihaty in 2019. Sihaty would go on to launch its telehealth platform in 2020, offering a comprehensive virtual primary healthcare system that allows users to connect to the startup's network of doctors, pharmacies, laboratories, and imaging centres. Boasting the data security standards approved by HIPAA, Sihaty has turned heads for its virtual urgent care services which connects users to board-certified family or emergency doctors in a matter of minutes, while its clinical workflow and end-to-end solution has honed in on maximising relevance and convenience for users.
For co-founder and CEO, Nadeem Alduaij, Sihaty offers a solution for what he sees as disjointed and inefficient existing processes.
“For too long, our nations have focused on a sick care model. This is expensive, fragmented, low-yield, and it completely ignores the healthy majority. As a result, we have not paid enough attention to primary care and prevention, the priority interventions for health systems, ”he said of Sihaty’s underlying goals. “Despite our obsession with building bigger and better hospitals, our region holds the alarming record of having the fastest growing chronic disease mortality rate in the world. A paradigm shift is long overdue, and we already know what the solutions are. Technology has the power to scale and enhance their impact.”
With the new funding, Alduaij and co look to roll-out an ambitious strategy that will see a family doctor assigned to all incoming users with a view to better managing chronic conditions, including mental health, while expansion throughout the Gulf region is also on the cards for the startup.
