Otida, an Egyptian healthtech startup, has completed a $340,000 pre-seed funding round led by LoftyInc Capital.
The round was joined by with the Flat6Labs Cairo, Afropreneurs, Jedar Capital, OQAL Angel Investors, UI Investments, and some angel investors.
Otida will use the funds to scale its digital diabetes treatment across Egypt and the Mena region.
Launched in 201 by Ahmed Tawfic and Ayman Mostafa, Otida acts as a nutritionist, fitness coach, and physician, among other roles, for patients with diabetes who struggle while navigating through their day-to-day lives.
Otida’s has a technology-based care model that uses the most up-to-date recommendations to deliver the most efficient treatment.
Patients who sign up for Otida receive gadgets that test blood sugar levels every 15 minutes and send data to the cloud instead of needing to prick their fingers with an antiquated blood sugar monitor.
Ahmed Tawfic, founder and CEO of Otida said: “Otida’s business model revolves around the needs of patients with diabetes. We believe that with the level of technology we are surrounded by today, it’s unacceptable to have patients with diabetes still struggling to find the right treatment program that fits each individual condition.”
