Lifestores Healthcare, a Nigerian health tech startup, has announced a $3 million pre-seed funding round. Health54, CFAO Group’s healthcare-focused corporate venture capital arm, led the latest round, with participation from Aruwa Capital Management and other existing investors.
Bryan Mezue, Co-founder and CEO of Lifestores Healthcare, commented on the raise, saying, “We’re thrilled to have Health54 join our mission of democratizing access to quality and affordable primary healthcare in sub-Saharan Africa, together with existing investors, such as Aruwa Capital and the Lionbear consortium.”
The startup hopes to use the new funds to improve its software capabilities and expand into other Nigerian markets. When Flying Doctors Nigeria led a N365 million seed round in 2020, the startup had a similar plan.
However, the health tech company claims that this latest round of funding will allow them to expand their sales and engineering teams, as well as their senior management, in addition to improving their services and expanding into other Nigerian markets.
