Viebeg, a Rwandan health tech startup has raised a pre-seed round funding to enhance its activities. Viebeg provides quality medical equipment and supplies throughout East and Central Africa through an innovative data-driven procurement platform.
A new impact venture capital firm, Beyond Capital made its first investment in Viebeg Technologies.x In the funding round, Beyond Capital ventures collaborates with co-investors Eckenstein Geigy Stiftung and Beyond Capital Fund.
Why The Investors Invested
Viebeg’s momentum over time influenced the fundraising round. Since the establishment of the firm, it has built a commercial presence in the Democratic Republic of Congo and Burundi serving more than 410 customers. The covid 19 pandemics has brought the need to enhance medical supply chains across the region which brings about the demand for medical supply. Viebeg is targeting an underserved $4 billion market in Central and East Africa.
Eva Yazhari, Beyond Capital Ventures General Partner said “We are excited to partner with Tobias and Alex and are impressed by their deep commitment to improving the quality of healthcare for underserved populations” . “The Viebeg team has demonstrated resilience, agility, and the ability to successfully execute in challenging market conditions. I could not think of a better example of the type of company Beyond Capital Ventures will invest in.”
Beyond Capital, Ventures is a women-led impact venture capital business that focuses on developing countries, with a dynamic, low risk, and diversified portfolio. The company invests in technologies that will be useful to the needs of East Africa’s and India’s 1 billion customers. Beyond Capital, Ventures wants to invest in conscious leaders’ establishment firms to find a solution to the increasing needs in required areas, agriculture, primary healthcare, and financial inclusion, and will be launched in Spring 2021. The funding round will be the first to make use of an Equitable Venture structure which provides Series A level founders a profit share in the GP carry.
A Look At What The Startup Does
Tobias Reiter established Viebeg Technologies in 2018. Tobias has experience in developing platforms that are AI-driven, and Alex Musyoka who has worked in Crown Healthcare, a key medical supply firm has sales and operations experience.
Medical equipment and supply deficiencies, and unaffordability are the major sources of continuous poor quality care in Africa low-income regions which lead to thousands of deaths that are avoidable yearly.
Viebeg’s data-driven logistic platform includes warehousing, shipping, inventory management, and last-mile distribution allows healthcare facilities to better manage procurement, to make sure they have all required quantities and types of medical supplies in-store to treat patients effectively.
Viebeg can save its customers up to 40% on average by linking health practitioners directly with manufacturers to eliminate the need for middlemen and brokers in the value chain. The firm’s mix of on-demand delivery and flexible financing enhances convenience and accessibility which allows it to serve hospitals that have limited resources and were not seen as relevant. Viebeg makes use of customer data t project future medical supply requirements and enhances its procedures of procurement.
