Healthtech startup Viebeg Technology secures US$1 million to deliver on its platform

RWANDA – Viebeg Technologies, a Rwandan health-tech startup, that provides high-quality medical supplies and equipment throughout Central and East Africa through an innovative data-driven procurement platform, has received a total of US$1 million in funding.

The funding is from the Rwanda Innovation Fund (RIF), managed by Angaza Capital.

“We are thrilled to invest in VIEBEG, with a mission to enable proper care for millions, VIEBEG’s team is utilizing advanced technologies and extensive knowledge to establish a sustainable revolution in a sector that is in a dire need of viable solutions,” Angela Homsi, Angaza Capital Chair said.

The company intends to utilise the money in order to achieve the enormous promise of technology and data science in making medical supplies more inexpensive and accessible to hundreds of millions of people.

Viebeg’s data-driven procurement platform ensures that medical institutions always have the necessary type and quantity of medical items in stock to treat patients effectively.

There is untapped potential to solve problems shared by hundreds of millions, and Rwanda has an unprecedented opportunity to establish its status as an innovation and sustainable entrepreneurship African leader.

In August, Viebeg qualified to be the very first beneficiaries of a newly founded impact venture capital firm, Beyond Capital Ventures.

Beyond Capital Ventures joined its co-investment partners Beyond Capital Fund and Eckenstein Geigy Stiftung in Viebeg’s pre-seed funding round.

Viebeg Technologies was founded in 2018 by Chief Executive Officer Tobias Reiter, who has prior experience building AI-driven platforms, and Chief Commercial Officer Alex Musyoka, who has sales and operations experience through senior roles at medical supply companies including Crown Healthcare, East Africa’s largest player.

The health tech firm provides high-quality medical supplies and equipment through an innovative procurement platform.

The company saves up to 40% on average by working with over 40 multinational manufacturers and suppliers and being directly connected to hospitals, clinics, and pharmacies through the procurement platform.

VIEBEG’s innovative business strategy, which includes on-demand supply and flexible financing of medical items and equipment, has already helped over 400 healthcare facilities in Rwanda, Burundi, Eastern DRC, and Kenya.

The health startup delivers an average cost savings of up to 40% by working with over 40 multinational manufacturers and suppliers and being directly connected to hospitals, clinics, and pharmacies via the procurement platform.  

With an innovative business model that incorporates on-demand supply and flexible financing of medical items and equipment, VIEBEG has already provided more than 400 healthcare facilities in Rwanda, Burundi, Eastern DRC, and Kenya.

The company, which is based in Kigali, employs 24 employees, including 18 Rwandans. RIF’s support of great entrepreneurs and innovators who use technology to disrupt access to crucial solutions and assist sustainable economic development in Rwanda and beyond is shown by this investment.

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