Waspito, a Cameroonian health social networking platform led by Jean Lobe Lobe, has secured a $2.7-million seed funding round from institutional investors as it seeks to scale its presence in its home market and expand operations to Cote d’Ivoire.
Lobe founded the Cameroonian e-health startup in 2020 with the aim to connect the African health ecosystem and make health services and information available to as many people as possible across the continent.
The Waspito application, which includes features such as teleconsultation, allows users to consult a doctor or other healthcare professional remotely via video call, making it simple for Africans with an Internet connection to simply plug into the platform and gain access to quality health services and preventive healthcare information.
Its recently completed $2.7-million seed funding round was supported by BLOC Smart Africa, a blended finance technology impact fund created and managed by Bamboo Capital, with a fundraising target of $100 million.
Launch Africa Ventures, Newtown Partners via the Imperial Venture Fund, Capital Partners, Orange Ventures, Saviu Ventures, Plug and Play and BringCom were among the other investors that participated in the funding round.
The Cameroonian startup revealed that the first stage of its expansion phase, which includes deepening its coverage across Cameroon and a launch in Cote d’Ivoire, will be funded by the capital injection raised from the seed round.
While commenting on the recently completed round, Lobe said Waspito is making baby steps in the right direction and this additional funding will help accelerate execution.
“We are proud of the pool of investors we were able to get on this round. Their experience and network will add value to our team as we continue this journey to solving Africa’s healthcare accessibility and affordability problem,” he added.
Waspito plans to expand its service offering in addition to expanding its coverage across Cameroon and launching an operation in Cote d’Ivoire, as it strives to connect Africa’s health ecosystem online to alleviate the brain drain in the industry and address other health system challenges on the continent.
