Uganda’s Rocket Health raises $5m Series A round to accelerate East African expansion

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Uganda’s Rocket Health, a telemedicine and last-mile healthcare provider, has closed a US$5 million Series A funding round to accelerate its technology roadmap and geographical expansion to the different regions of Uganda and into Kenya.

Founded in 2012, Rocket Health is the number one telemedicine player in Uganda, offering an end-to-end healthcare experience to over 25,000 individual patients. The startup’s solution leverages technology to provide four integrated services – 24/7 teleconsultations, medicine delivery, home sample collection for laboratory diagnostic testing and physical specialist clinic consultations.

Rocket Health’s US$5 million Series A is led by Creadev, an evergreen investment fund backed by the Mulliez family of French entrepreneurs. Creadev is joined by existing early-stage African investors Grenfell Holdings and LoftyInc Capital Management who participated in the round. The startup will use the funding to expand further across Uganda and into Kenya.

“Rocket Health is on a quest to make quality primary healthcare accessible, affordable and convenient to achieve the best outcomes for as many Africans as possible through the exponential power of technology,” said Dr Davis Musinguzi, Rocket Health’s founder and CEO.

“We’re elated that the investment thesis of Creadev and the Mulliez family resonates deeply with this timeless vision of the Rocket Health founding team. Together, we shall build a sustainable digital healthcare value chain down to the last mile across Africa.” 

Pierre Fauvet and Sarah Ngamau of Creadev Africa said they were delighted to partner with Rocket Health on its mission to make healthcare accessible to the many in Sub-Saharan Africa.

“We have been highly impressed by the creativity, tenacity and vibrant culture of the Rocket Health team, which holds an ambitious vision for the future of African primary care. The opportunities are countless, from data analytics to innovative distribution channels. Together with like-minded investors, we look forward to bringing our experience in retail, e-commerce, logistics and digital health to support Davis and his team as they revolutionise access to Healthcare in Africa,” they said.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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