Disruptive Cape Town-based healthtech start-up lands healthy injection to expand its innovative healthcare platform, MyPocketHealth.
The Cape Town-based start-up, iNNOHEALTH announced last month that it had secured a seven-figure investment from a Hong Kong-based venture capital firm. The undisclosed investment is expected to help expand the start-up’s MyPocketHealth app, which will be launched nationally before the end of the year. The doctor-led app MyPocketHealth, the company’s first product, is an integrated and comprehensive AI-driven marketplace aimed at serving ordinary people. Founded last year by two medical doctors, Chad Marthinussen and Wade Palmer, and Abdul-Malick Salie, a chartered accountant, the healthtech disruptor is looking to “provide solutions for quality, affordable and equitable healthcare to everyone in Africa”. With the country’s healthcare system under strain and more people having lost jobs due to the coronavirus pandemic, the platform comes at an opportune time.
The platform also challenges the traditional means through which healthcare is delivered and intends to “reduce the need for in-person medical consultations, allowing patients to access the best, most affordable medical advice and care from their mobile phones”. “What we’ve seen is a 55% increase in out-of-pocket medical expenditure, when 40% of all forms of healthcare can be virtualised. Additionally, 78% of South Africans have missed appointments because of cost,” said Marthinussen. Over the past few years, Cape Town has grown to be known as the leading African hub for developing notable disruptive companies. Last year alone, the city’s tech start-ups were on the receiving end of R1.2 billion in disclosed investments. The city is also home to some tech heavyweights, including Naspers, Takealot, Sweepsouth, GetSmarter and Yoco.