Swedish-based BYON8 has raised $1.5 million in its seed funding round which was led by People Ventures, a Danish early-stage technology investor, along with Jellyfish Invest and T&W Holding, according to media reports. The healthcare company will use the funds to expand its business and bring affordable healthcare to the people in Africa who need it the most.
BYONB launched new medical diagnostic software in 2019 that runs on mathematical algorithms and medical AI and helps convert patient data records into calculated diagnosis propositions. This move is expected to enhance healthcare procedure and customer experience regardless of their financial status.
The company was founded in 2015 by Josef Murad & Matias Murad with the aim of making healthcare affordable and available to those who need it the most in Africa. BYON8’s app runs 24/7 and you can easily access the app any time you face a problem.
All BYON8 customers have access to the BYON8 platforms, which include a rule-based diagnostic engine with over 3.5 billion patient cases and 100,000 rules. The company is built around two main services. The first is a free symptom checker that allows users to enter their symptoms and figure out the reason behind it and the second one is a paid symptom checker that helps users figure out what’s causing their symptoms, and book appointments or have a video consultation with licensed doctors.
Josef Murad, MD, CEO and co-Founder of BYON8 told the media, “Having People Ventures lead our Seed round is a great recognition of the work we have done so far and of the continued growth and momentum we are experiencing. This capital will be used to fuel our growth in emerging markets starting with Kenya.”
At present, BYON8 is eyeing the markets in Kenya where there is a massive inadequacy of doctors. Statistics show that there is one 1 doctor for 10,000 people; many other doctors are unemployed or underemployed as public health services cannot absorb more of them.