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‘All-female-led’ Pakistani startup raises $2.7m in funding round

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9 months ago

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In a groundbreaking achievement for Pakistan’s startup landscape, Sehat Kahani, a female-led health-tech startup, has successfully closed a historic Series A funding round after raising $2.7 million.

“This landmark positions Sehat Kahani as the first all-female-led company in Pakistan to secure Series A funding,” a statement from the company noted.

Amaanah Circle, a Singapore-based health tech fund led by Dr Razi Yousuf, spearheads the funding, joined by key investors including Epic Angels, a female-only investor collective, Cross Fund, USAID Investment Promotion Activity (IPA), Augmentor, Impact Investment Exchange(IIX), and the Elahi group of companies.

Dr Razi said: “Sehat Kahani is an incredible health-tech story led by Dr Sara Saeed Khurram and Dr Iffat Zafar Aga. Amaanah Circle is proud to contribute to the subject matter expertise, and in upscaling regionally and globally to the overall vision of Sehat Kahani in the future of digital health and preventive healthcare.”

Founded by medical doctors Dr Khurram and Dr Aga, Sehat Kahani’s innovative technology ensures a seamless virtual connection between doctors and patients within 60 seconds.

The platform offers on-demand at-home or on-premise laboratory services and online medicine delivery, catering to a diverse nationwide patient base, including B2B clients, B2C consumers, and the underserved population in rural areas.

The unwavering support from USAID has been pivotal in Sehat Kahani’s growth, fueling innovation and enabling impactful expansion in the dynamic Pakistani digital health landscape.

This support fosters a future where accessible healthcare solutions thrive.

Dr Khurram said: “This funding infusion marks a pivotal moment for Sehat Kahani. It will enable us to develop advanced features, including decision support systems, precision medicine tools, and predictive AI models to help our patients live fully by knowing their disease better.

“Grateful to our investors and programs such as Weraise for supporting our mission and championing female founders, setting a powerful example,” she added.

Sehat Kahani extends its corporate application into a comprehensive OPD management solution, providing corporate employees and their families 24/7 hassle-free and cashless access to specialists, online medicine delivery, and efficient claims management.

The holistic 360-degree well-being program for corporations emphasises health promotion and preventative care.

The consumer application, operational in over 310 cities and towns across Pakistan, integrates seamlessly into prominent banking and lifestyle platforms, ensuring affordable and accessible healthcare

Dr Aga said: “Sehat Kahani has shown a significant average year on year growth of 141% in the last 3 years, overcoming the myth that telemedicine was only beneficial during covid as we have seen 5x cumulative growth in the number of consultations in the post-COVID era.”

“This gives us the confidence to expand operations to other countries and take Sehat Kahani global as our next move for expansion,” Dr Aga noted.

Sehat Kahani, known for empowering women doctors, has a global network of 7,500+ healthcare professionals, serving 800+ corporations, and 62 e-health clinics nationwide.

With 2.6 million consultations to date, the new funding aims to accelerate their mission, bridging healthcare gaps, empowering women in medicine, and expanding global impact.

Maaike from Epic Angels, the largest female-only investor collective in the APAC region, stated: “Sehat Kahani embodies what we seek in investments: strong potential for success and impactful innovation.”

“We fully believe in Dr Sara and Dr Iffat’s leadership, envisioning Sehat Kahani as a beacon of innovation and a model for future healthcare solutions.”

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The PSX has resumed operations, achieving a gain of 970 points.

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11 hours ago

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The optimistic close at the PSX was propelled by rumors preceding the International Monetary Fund (IMF) executive board meeting on September 25, at which the approval of a $7 billion Extended Fund Facility (EFF) is expected, stated Ahsan Mehanti of Arif Habib Commodities.

Strong economic indicators, such as increasing remittances, escalating exports, and a declining trade deficit, further bolstered investor confidence. Furthermore, the Asian Development Bank’s (ADB) commitment to a $2 billion yearly concessional loan until 2027, along with a robust rupee, significantly contributed to the market’s favorable performance, he stated.

Widespread purchasing at the PSX was noted among blue-chip stocks, with major players like Mari Petroleum (MARI), Engro Fertilizers (EFERT), United Bank Limited (UBL), Meezan Bank Limited (MEBL), and Fauji Fertilizer Company (FFC) recording substantial increases. According to Topline Securities, these stocks collectively resulted in a significant 682-point increase in the index.

Pioneer Cement Limited (PIOC) announced its fiscal year 2024 results, revealing a profits per share (EPS) of Rs 22.79 and a cash dividend of Rs 10 per share. This announcement contributed to the favorable sentiment in the market.

Trading volume surpassed 400.2 million shares, resulting in a total turnover of Rs15.9 billion. Worldcall Telecom Limited (WTL) topped the volume chart, transacting more than 32.2 million shares.

The Large Scale Manufacturing Index (LSMI) demonstrated a year-on-year (YoY) gain of 2.4% in July 2024. This expansion was propelled by multiple critical areas.

Tobacco experienced a significant increase of 90.2%, establishing it as the foremost contributor to the LSMI growth. Conversely, the automotive sector witnessed a substantial increase of 72.0%, indicating robust demand and output.

The transport equipment category experienced an 11.7% increase, signifying robust growth in the manufacturing of transport-related machinery and equipment. The other manufacturing sector experienced a gain of 10.7%, positively impacting the overall LSMI.

Nevertheless, not all industries exhibited strong performance. The leading decliner was the fabricated metal sector, which experienced an 18.4% decrease, signifying a contraction in metal product manufacturing. The electrical equipment industry experienced a substantial decline of 19.4%, indicative of reduced output levels.

In July 2024, the LSMI decreased by 2.1% on a month-on-month (MoM) basis. This fall signifies a minor contraction in manufacturing operations relative to the preceding month, although the favorable year-on-year growth.

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As of August 2024, Pakistan’s current account is in surplus.

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12 hours ago

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Pakistan’s current account deficit was $161 million as of August 2023, according to figures from the central bank.

The current account deficit for the months of July and August of this year was $171 million, compared to $939 million for the same time in the previous fiscal year.

According to experts, the 40% rise in remittances is the primary cause of the current account surplus.

August saw US$ 2.9 billion in offshore remittances to Pakistan, according to experts.

Comparing July of this year to July of last year, total exports increased by 11.3% YoY to $3.01 billion. In contrast to the $3.08 billion in exports the month before, it decreased by 2.2%.

Compared to the $4.99 billion in imports recorded in July of previous year, total imports increased 12.2% YoY to $5.6 billion. Imports decreased by 1.3% over the previous month.

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Islamic Sukuk Bonds: Government Is Expected To Begin Bond Auction Next Week

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6 days ago

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There is now more positive economic news for the people of Pakistan. The government is anticipated to begin the Sukuk Islamic Bond auction next week, after the central bank’s announcement of a large drop in the policy rate.

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