Yodawy Benefits – Egypt’s First AI-Powered Pharmacy Benefits Platform
Cairo-based Yodawy benefits is a pharmacy benefits platform that connects patients and consumers to pharmacies, doctors, insurance companies and pharmaceutical/FMCG companies. It also enables insurance and co-payment approvals digitally.
In 18 months since its Series A round, Yodawy has grown revenue by 400% and partnered with 20 leading health insurance companies, 3,000 pharmacies, and 300 corporates in Egypt. UAE-based and MEA-focused venture capital firm Delivery Hero Ventures, Singapore-based AAIC Investment and Saudi’s Dallah Al-Baraka led the round.
Access to a network of 2500+ pharmacies
Using the Yodawy platform, consumers can order medicines and personal care products from a network of 2500+ pharmacies. They can also access their medical insurance co-payment plan and receive electronic prescriptions from their doctors.
Founded in 2018, Yodawy serves a network of patients, pharmacists and medical insurance companies by digitally managing the entire process. Its AI-powered approval engine approves orders, and the orders are then sent to the best-matching pharmacy for delivery.
This has helped Yodawy grow from zero to half a million orders in 12 months, all without prior access to venture capital. The Cairo-based startup is now seeking further funding to expand its reach in Egypt and the MENA region, a $60 billion market for pharmaceuticals.
Founders Karim Khashaba, CTO Sherief El-Feky and COO Yasser AbdelGawad created a comprehensive digital pharmacy benefits management solution that connects pharmacies, insurance companies and their customers via a real-time, AI-powered approval engine. The company also aims to revolutionize how prescriptions are generated by doctors, processed by payers, picked and packed by pharmacies, and fulfilled at scale to acute and chronic patients.
Access to a network of 2500+ doctors
Yodawy offers a pharmacy benefits management solution that connects pharmacies, insurance companies and patients through a real-time AI-powered approval engine. This enables patients to access their health insurance benefits and receive instant digital prescriptions from their doctors.
In the past 18 months since its Series A round, the Cairo-based startup has grown revenue by 400 per cent and partnered with 20 leading health insurance companies, 3,000 pharmacies and more than 300 corporates in Egypt. It has also launched a flagship e-prescription gateway, which lets physicians go paperless.
The company recently secured $16 million in the first close of its Series B round, co-led by Delivery Hero Ventures – the venture capital arm of leading global food delivery platform Delivery Hero – and Global Ventures, an international, UAE-based, venture capital firm investing across MEA. The investment is part of a larger, ongoing commitment to build out the company’s nationwide and tech-powered fulfillment infrastructure to serve patients anywhere in Egypt.
Access to a network of 2500+ insurance companies
Yodawy has partnered with 2500+ insurance companies and medical providers to offer the country’s first digital pharmacy benefits platform. The company’s app allows patients to view their medical insurance coverage and prescription medications, as well as manage their benefits in one convenient place.
The company also rolled out an e-prescription solution enabling patients to access their insurance prescriptions and receive electronic prescriptions from their doctors. This is a great way to cut down on the costs and hassles associated with medication.
Cairo-based Yodawy aims to revolutionize the way that pharmaceuticals, hospitals and insurance companies work together. It has a comprehensive platform that includes an AI-based approval engine, programmatic medication formulary adjustment and refill authorizations. The company also has a robust supply chain and logistics value chain that ensures the timely delivery of medications to patients’ doorsteps. The company recently closed a $1M Series A round led by Egypt’s Algebra Ventures, with CVentures and ASI Ventures participating.
Access to a network of 2500+ healthcare professionals
In the last 18 months since its Series A round, Yodawy has increased revenue by 400% and worked with 20 of Egypt’s top health insurance companies, 3,000 pharmacies, and more than 300 corporates (B2B2C). It is the platform of choice for many leading employers in the country who need to ensure their employees’ chronic medications are managed.
The company uses technology, expert pharmacists, and cutting-edge logistics to pioneer a pharmacy benefits management platform in the MENA region. It enables its partners, including insurance companies, hospitals, pharmacies, and pharmaceutical/FMCG firms to serve a larger clientele with an exemplary customer journey across Egypt.
In its latest round, Yodawy has secured US $16 million in the first close of its Series B funding. Its investors include Delivery Hero Ventures, an international, UAE-based, venture capital firm investing throughout MEA; Global Ventures; and AAIC Investment. The investment will help fuel the growth of its signature Care Program for chronic patients, which processes daily countrywide deliveries to 38 cities in Egypt and provides registered patients with monthly prescription refills.