KARACHI: In a groundbreaking achievement for the Pakistani startup landscape, health-tech startup Sehat Kahani has become the first all-women led company from the South Asian nation to secure $2.7 million in Series A funding, the firm said in a statement on Thursday.
Amaanah Circle, a Singapore-based health-tech fund led by Dr. Razi Yousuf, spearheaded the funding, joined by key investors including Epic Angels, a female-only investor collective, Cross Fund, USAID Investment Promotion Activity (IPA), Augmentor, Impact Investment Exchange(IIX) and the Elahi group of companies.
Sehat Kahani is among a myriad of social enterprises — businesses seeking to build a better world — that are innovating to plug health care gaps in developing countries, a task given added urgency by the COVID-19 crisis.
“Sehat Kahani is an incredible health-tech story led by Dr. Sara Saeed Khurram and Dr. Iffat Zafar Aga. Amaanah Circle (Singapore) is proud to contribute to the subject matter expertise, and in upscaling regionally and globally to the overall vision of Sehat Kahani in the future of digital health and preventive health care,” Yousuf said in a statement.
Sehat Kahani’s technology ensures a “seamless virtual connection” between doctors and patients within 60 seconds, offering on-demand at-home or on-premise laboratory services and online medicine delivery. The platform caters to a diverse nationwide patient base, including B2B clients, B2C consumers, and underserved populations in rural areas.
Sehat Kahani extends its corporate application into a comprehensive OPD management solution, providing corporate employees and their families 24/7 hassle-free and cashless access to specialists, online medicine delivery, and efficient claims management.
“The holistic 360-degree well-being program for corporates emphasizes health promotion and preventative care. The Consumer Application, operational in over 310 cities and towns across Pakistan, integrates seamlessly into prominent banking and lifestyle platforms, ensuring affordable and accessible health care,” the statement added.
Founder Khurram said the funding infusion marked “a pivotal moment for Sehat Kahani.”
“It will enable us to develop advanced features, including decision support systems, precision medicine tools, and predictive AI models to help our patients live fully by knowing their disease better,” she said.
Co-founder Aga said the company had shown average year on year growth of 141 percent in the last three years, overcoming the myth that telemedicine was only beneficial during the COVID-19 pandemic.
“We have seen five times the cumulative growth in the number of consultations in the post covid era,” Aga said. “This gives us the confidence to expand operations to other countries and take Sehat Kahani global as our next move for expansion.”
In 2021, Khurram was announced as one of the five winners of the ‘WE Empower UN SDG Challenge,’ a first-of-its-kind global competition for women social entrepreneurs who are advancing UN Sustainable Development Goals and inspiring communities in their respective countries.
As COVID-19 strained Pakistan’s health system after 2020, the founders of Sehat Kahani decided to tap into tens of thousands of women doctors sitting at home, their talents squandered in a country where millions have no access to medical care.
Many families encourage their daughters to study medicine not for a career, but to bolster their marriage prospects. The phenomenon even has a name — “doctor-brides”.
Appalled by the waste of expertise, Khurram and Aga set up their telemedicine platform enabling female medics to provide e-consultations from their homes to patients in rural communities.
Sehat Kahani also liaised with the Pakistani federal government to provide free consultations to all patients during the first wave of COVID-19. They also installed apps in hospital intensive care units treating COVID patients, allowing junior doctors to get immediate advice from critical care experts based elsewhere.
Sehat Kahani becomes first all-women Pakistani company to raise $2.7 million Series A funding
https://arab.news/rvfst
Sehat Kahani becomes first all-women Pakistani company to raise $2.7 million Series A funding
- Sehat Kahani’s technology ensures a “seamless virtual connection” between doctors and patients within 60 seconds
- The health-tech startup has shown a significant average year-on-year growth of 141% in the last three years
IMF Executive Board to review $1.2 billion loan disbursement for Pakistan today
- Pakistan, IMF reached a Staff-Level Agreement in October for second review of $7 billion Extended Fund, climate fund program
- Economists view IMF bailout packages as essential for cash-strapped Pakistan grappling with a prolonged macroeconomic crisis
ISLAMABAD: The Executive Board of the International Monetary Fund (IMF) is set to meet in Washington today to review a $1.2 billion loan disbursement for Pakistan, state media reported on Monday.
Pakistan and the IMF reached a Staff-Level Agreement (SLA) in October for the second review of a $7 billion Extended Fund Facility (EFF) and the first review of its $1.4 billion Resilience and Sustainability Facility (RSF).
The agreement between the two sides took place after an IMF mission, led by the international lender’s representative Iva Petrova, held discussions with Pakistani authorities during a Sept. 24–Oct. 8 visit to Karachi, Islamabad and Washington D.C.
“The International Monetary Fund’s (IMF) Executive Board is set to meet in Washington today to review and approve $1.2 billion in loan for Pakistan,” state broadcaster Pakistan TV reported.
Pakistan has been grappling with a prolonged macroeconomic crisis that has drained its financial resources and triggered a balance of payments crisis for the past couple of years. Islamabad, however, has reported some financial gains since 2022, which include recording a surplus in its current account and bringing inflation down considerably.
Economists view the IMF’s bailout packages as crucial for cash-strapped Pakistan, which has relied heavily on financing from bilateral partners such as Saudi Arabia, China and the United Arab Emirates, as well as multilateral lenders including the IMF, World Bank, Asian Development Bank and Islamic Development Bank.
Speaking to Arab News last month, Pakistan’s former finance adviser Khaqan Najeeb said the $1.2 billion disbursement will further stabilize Pakistan’s near-term external position and unlock additional official inflows.
“Continued engagement also reinforces macro stability, as reflected in recent improvements in inflation, the current account, and reserve buffers,” Najeeb said.
Pakistan came close to sovereign default in mid-2023, when foreign exchange reserves fell below three weeks of import cover, inflation surged to a record 38% in May, and the country struggled to secure external financing after delays in its IMF program. Fuel shortages, import restrictions, and a rapidly depreciating rupee added to the pressure, while ratings agencies downgraded Pakistan’s debt and warned of heightened default risk.
The crisis eased only after Pakistan reached a last-minute Stand-By Arrangement with the IMF in June 2023, unlocking emergency support and preventing an immediate default.
