Saturday, April 13, 2024

Ethiopia’s 1st and Innovative Health-tech Startup Orbit Health has successfully closed its Seed Investment Round


Orbitly INC, with its subsidiary eHealth IT Services PLC (Orbit Health) announced that it has successfully closed its first external seed-investment, co-led by Africa based Savannah VC fund and New York based Betam Group, LLC, along with other diaspora HNW investors.
The fund raise comes at a time when Orbit Health has been selected as a successful Ethiopian Digital Health company, part of the consortium led by US based John Snow Inc, to help transform Ethiopia’s healthcare digitally, with a contract amounting to $63M, over 5 years. The fund will contribute in helping Orbit Health increase its human capital to roll out its ambitious growth plans and delivery of its contractual wins in Ethiopia, as well as invest in its digital offerings, curated to healthcare facilities in Ethiopia.
Pazion Chernet, Co-Founder & CEO of Orbitly, commented “It gives me great pleasure to welcome our strategic investors that will position us from a startup to high rise, with their tremendous VC funding and growth experience and wisdom. I am especially proud to announce our first external fund raise that coincided with our double win in digitizing Ethiopia’s healthcare with our partners JSI, USAID and Ethiopia’s Ministry of Health. We started Orbitly with a firm belief that a healthy society is the foundation of a productive society and we will do our part in changing the misconceptions that living a healthy life in Sub-Saharan Africa is a luxury, by helping strengthen the weak healthcare infrastructure, through end-to-end innovative technology solutions. This fund raise will enable us to deliver on our promise, at scale and we are extremely hopeful of what the future holds for us and our clients.”

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