Rocket Health gets a USD5m shot in the arm from Creadev Africa in Series A round funding to fuel East African expansion

Rocket Health, a telemedicine and last-mile healthcare provider headquartered in Uganda, has announced this morning, that it has closed a USD5 million Series A funding round led by Creadev, an evergreen investment fund backed by the Mulliez Family of French entrepreneurs.

Creadev is joined by existing early-stage African investors Grenfell Holdings and LoftyInc Capital Management who participated in the round.

This investment will allow Rocket Health to accelerate its technology roadmap and geographical expansion to the different regions of Uganda and into Kenya in order to make healthcare more convenient, accessible, and delivered to patients wherever they are.

“Rocket Health is on a quest to make quality primary healthcare accessible, affordable and convenient to achieve the best outcomes for as many Africans as possible through the exponential power of technology,” said Dr Davis Musinguzi, Rocket Health CEO and Founder. “We’re elated that the investment thesis of Creadev and the Mulliez family resonates deeply with this timeless vision of the Rocket Health founding team. Together, we shall build a sustainable digital healthcare value chain down to the last mile across Africa.”

Founded in 2012, by Dr Davis Musinguzi together with Dr John Mark Bwanika, Dr William Lubega and Dr Hope Achiro, Rocket Health has rocketed its way to becoming the number one telemedicine player in Uganda that offers an end-to-end healthcare experience to over 25,000 individual patients. Rocket Health’s solution leverages technology to provide 4 integrated services – 24/7 teleconsultations with trained and licensed medical doctors, medicine delivery, home sample collection for laboratory diagnostic testing and physical specialist clinic consultations – with a “focus on quality, convenience and affordability.”

The company said in a statement, that it is banking on innovative digital health solutions, to improve healthcare for all in Africa.  

Creadev Africa on the other hand is part of Creadev, a global long-term investment firm controlled by the Mulliez family— founders of one of the largest business-to-consumer retail platforms in the world (Auchan, Decathlon and Leroy Merlin amongst others). Since 2002, Creadev has invested over USD2 billion from venture to growth equity and buyouts. With offices in Paris, Nairobi, New York, and Shanghai, Creadev invests in companies well positioned to scale and become worldwide champions in their respective sectors.

In a media statement, Creadev said, there were “delighted to partner with Rocket Health on its mission to make healthcare accessible to the many in Sub-Saharan Africa.”

“We have been highly impressed by the creativity, tenacity and vibrant culture of the Rocket Health team, which holds an ambitious vision for the future of African primary care. The opportunities are countless, from data analytics to innovative distribution channels. Together with like-minded investors, we look forward to bringing our experience in retail, e-commerce, logistics and digital health to support Davis and his team as they revolutionize access to Healthcare in Africa!” said Pierre Fauvet, the Creadev Managing Director, Africa and Sarah Ngamau, Managing Director – Kenya.