Healthcare startup, Healthtracka, raises $1.5 million

Healthtracka, a Lagos based provider of at-home lab testing platform, has raised $1.5 million.

The round is led by venture capital investors Ingressive Capital and Hustle Fund, with participation from angel investors: Alumni Angels Alliance and Flying Doctors.

The news comes five months after the startup participated in the Techstars Toronto accelerator program last October.

The startup founded in May 2021 by Ifeoluwa Dare-Johnson and Victor Amusan, allows users to book tests on its website, have their samples collected at their homes and access their results on their email addresses.

Dare-Johnson, who has years of experience in the healthcare space, in an interview with Techcrunch, spoke on what led her to start the company.

“As a scientist, I studied biochemistry in school and worked in the lab, so I knew how important diagnostics was. But it wasn’t until about four years ago, when my dad had passed, that I started to look closely into the space.

“We live in Africa, where healthcare infrastructure is poor. So you would think that that would make people more conscious about their health, knowing nobody will save them. Unfortunately, that’s not the case.”

These were some of the problems that I saw clearly and wondered how we could get healthcare to that level where you can be at home and access it seamlessly.”

Speaking on the investment, Maya Horgan Famodu, founder of Ingressive Capital, said:

“Ifeoluwa is hungry and very bright. Not only did we anonymously use Healthtracka’s services in diligence and have a 10/10 experience, we recognized truly what this could become across the continent, even from just interacting with her team for tests.

“The product is high quality, on time, affordable and unlocking the door for a healthier Africa."

Healthtracka’s network of phlebotomists has increased 20 times since its launch, and according to Dare-Johnson, the company has delivered close to 7,000 tests at home. Its revenue is growing 30% month on month as a result.

The company is taking three approaches to pursue more growth and diversify its revenue streams.

First, it is launching subscription plans for its retail customers.

The second is betting on its B2B play: offering APIs for telehealth service providers, hospitals and pharmacies to provide at-home blood testing for their patients.

Third, the health tech company is looking to extend its presence beyond seven Nigerian cities to Kenya and Ghana before the end of the year.