Ethiopian femtech startup YeneHealth has announced Jaza Rift Ventures (JRV), a Nairobi-based health-tech-focused venture capital firm, has joined the company as the lead investor in their pre-seed round.
The investment, which makes YeneHealth the first Ethiopian startup to join JRV’s investment portfolio, is set to accelerate YeneHealth’s growth in the femtech space. According to a press release posted on YeneHealth’s website, the funds, which are undisclosed, will be utilized to expand the platform’s reach, enhance product development, and establish strategic partnerships, ultimately enabling YeneHealth to build on the foundation needed to meet its continental goal.
YeneHealth’s web and mobile applications are designed to provide African women of reproductive age with confidential and comprehensive access to sexual and reproductive healthcare services.
The platform offers a range of features, including health information, telehealth services with verified providers, an e-pharmacy service with discreet delivery, and personalized tools such as period tracking and medication monitoring.
YeneHealth’s culturally responsive and multilingual solution aims to address the needs around family planning and maternal health in Sub-Saharan Africa.
JRV’s investment into YeneHealth also follows a pre-seed investment from the Swedish-based women’s health investment fund, The Case for Her in April 2023.
Kidist Tesfaye, CEO of YeneHealth, expressed enthusiasm about Jaza Rift Ventures leading the pre-seed round and their support during the early stages of the startups’ journey.
“This represents a momentous milestone for our company. The endorsement of a credible African health-tech investor serves as validation for our innovative solution, our business strategy, and the immense potential to scale our impact across the continent,” said Kidist.
JRV’s investment into YeneHealth also follows a pre-seed investment from the Swedish-based women’s health investment fund, The Case for Her in April 2023.
JRV is known for its commitment to improving healthcare in Africa. The Venture, through its maiden Jaza Rift Pioneers Fund, invests $100k–$500k in disruptive, impactful, and invention-based pre-seed, seed, and seed extension stage healthtech, medtech, and biotech startups in Africa.
“Our investment in outstanding Founders such as YeneHealth’ Kidist illustrates our thesis to bring healthcare to people, rather than the old model of people to healthcare. YeneHealth responds to the huge unmet healthcare need for women and the potential for alpha returns alongside long term positive healthcare outcomes and impact,” said Sewu Steve Tawia, Partner at Jaza Rift Ventures.
“Our patient capital and non-financial support in partnership with Villgro Africa will enable the team to accelerate their path to product market fit for an already rich mix of products and services focused on women,” Sewu added.
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