SAUDI ARABIA – Saudi Arabia-based healthtech startup Aumet has closed a US$7 million pre-Series A funding round to scale AI-driven healthcare solutions.
The round was led by AAIC, a Tokyo-based healthcare-focused venture capital, the Swiss PE firm AIJ Holdings, Hamad Ali Sagri family office, Tijah Holdings, and Cigalah Group.
Shorooq Partners, an early backer of Aumet in the pre-seed and seed stages, also contributed to the new round.
Aumet is an artificial intelligence (AI)-enabled business-to-business (B2B) healthcare platform offering tailored solutions to healthcare providers.
Since its inception in 2016, Aumet has served over 10,000 pharmacies across three core markets, including the Kingdom of Saudi Arabia, Jordan, and Egypt.
Its AI-driven platform reduces costs, increases efficiencies in the supply chain of pharmacies while facilitating the exchange of data between healthcare providers, manufacturers, and distributors.
With the recent funding, Aumet intends to advance its AI capabilities, expand its reach to more pharmacies, and provide greater access to affordable healthcare products for consumers.
The startup also plans to achieve its promise of “securing the lives of a billion people by digitalizing the medicine and medical procurement cycle globally.”
Aumet, which operates a platform harnessing predictive analytics to forecast the procurement of products for pharmacies, is one of the digital health startups blooming in the Middle East and North Africa (MENA) region.
The recent investment follows the rising trend of startups raising funding to drive forward-looking innovations and transformations within the healthcare industry, especially in the MENA region.
In October 2022, online healthcare platform Vezeeta closed its Series E funding round, bringing its total funds to nearly US$90 million.
In November 2022, Cairo-based digital pharmacy platform Grinta raised US$8 million in a seed funding round co-led by Raed Ventures and Nclude, carrying US$9.5 million of raised funds in total.
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