Rocket Health Raises $5m Series A Funding To Accelerate Expansion In East Africa

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Rocket Health, a telemedicine and last-mile healthcare provider headquartered in Uganda, announced the close of a $5 million Series A funding round led by Creadev, an evergreen investment fund backed by the Mulliez Family of French entrepreneurs. Creadev was joined by existing early-stage African investors Grenfell Holdings and LoftyInc Capital Management who participated in the round.

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According to the startup, this investment will allow them to accelerate its technology roadmap and geographical expansion to the different regions of Uganda and into Kenya in order to make healthcare more convenient, accessible, and delivered to patients wherever they are.

“Rocket Health is on a quest to make quality primary healthcare accessible, affordable and convenient to achieve the best outcomes for as many Africans as possible through the exponential power of technology,” said Dr Davis Musinguzi, Rocket Health CEO and Founder. “We’re elated that the investment thesis of Creadev and the Mulliez family resonates deeply with this timeless vision of the Rocket Health founding team. Together, we shall build a sustainable digital healthcare value chain down to the last mile across Africa.”

Rocket health has come a long way since its inception in 2012, the startup has been leveraging digital technologies to offer over 25,000 patients a safe end-to-end medical journey which includes phone consultations with trained and licensed medical doctors, mobile laboratory services, prescription deliveries, and in-person clinical care. Rocket Health was founded by Dr Davis Musinguzi together with Dr John Mark Bwanika, Dr William Lugeba and Dr Hope Achiro. The four co-founders have successfully led the company to become the No. 1 Telemedicine provider in Uganda.

“We are delighted to partner with Rocket Health on its mission to make healthcare accessible to the many in Sub-Saharan Africa,” said Pierre Fauvet & Sarah Ngamau of Creadev Africa. “We have been highly impressed by the creativity, tenacity and vibrant culture of the Rocket Health team, which holds an ambitious vision for the future of African primary care. The opportunities are countless, from data analytics to innovative distribution channels. Together with like-minded investors, we look forward to bringing our experience in retail, e-commerce, logistics and digital health to support Davis and his team as they revolutionize access to Healthcare in Africa!”

Credit: Rocket Health