Uganda-based e-health startup Neopenda is raising funds in an equity crowdfunding campaign with Republic to enable expansion of clinical pilots into additional regions.
Disrupt Africa first reported on Neopenda, which builds medical devices for emerging markets and aims to provide the most vulnerable patient populations in the world with access to high quality healthcare, in June.
The startup’s first product is a wireless, wearable neonatal vital signs monitor designed for resource-constrained health facilities. The affordable system enables more responsive and appropriate care for critically ill newborns, and ultimately helps reduce preventable newborn mortality.
Neopenda has already secured over US$750,000 in funding, having raised non-dilutive capital from global companies such as Cisco CSR and Vodafone Americas Foundation, and investment from groups such as ADAP Capital, but it is now pursuing crowdfunding for additional funds to expand its areas of operation and raise awareness.
“At Neopenda, we are laser-focused on involving our users and stakeholders in emerging markets in the design of our product and our business strategy. By raising funds on Republic, we have the opportunity to closely involve supporters at home in Neopenda’s growth as well,” said chief executive officer (CEO) Sona Shah.
Republic, founded in early 2016, is a fast-growing investment platform where accredited and non-accredited individuals can invest in innovative startups curated by a team of experienced industry alumni.
“Republic is pleased to host this open investment opportunity in Neopenda and provide Neopenda with an alternative way of raising capital for their work,” said Kendrick Nguyen, CEO of Republic.