Helium Health Raises $30 Million in Series B

by Kay Aloha Villamor in June 6th, 2023

Helium Health, a Lagos, Nigeria-based company that provides healthcare software for electronic medical records, hospital management, billing/medical loans, and analytics, raised $30 million in Series B funding.

AXA IM Alts led the funding round, with participation from Capria Ventures, Angaza Capital, Anne Wojcicki (Founder of 23&Me), and Flatworld Partners. Existing investors such as Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI, and AAIC also contributed to the round.

The funding will primarily support the expansion of its fintech product, HeliumCredit. This latest round brings Helium Health's total funding to $42.12 million, following a notable $10 million raised during its Series A round in 2020.

With this latest funding, the company aims to expand its reach by providing healthcare providers with access to credit through its fintech product, HeliumCredit.

The company has ambitious plans for expansion, including the launch of HeliumCredit in Kenya this year. It also aims to increase its lending portfolio to 1,000 healthcare facilities by 2024 through a partnership with the U.S. International Development Finance Corporation (DFC).

“We believe in a future where good healthcare is a reality for all Africans, not just the few. We are deeply committed to supporting both private healthcare providers and public health stakeholders with finance, technology, and data to achieve that vision,” said Adegoke Olubusi, Helium Health CEO/co-founder while speaking on the funding. “We are delighted to have such seasoned healthcare investors accompany us on our journey.”

In addition to its fintech product, Helium Health will continue to scale its SaaS suite for healthcare providers, known as HeliumOS. This suite includes the Electronic Medical Records and Hospital Management Information System (EMR/HMIS) solution, HeliumOS.

Company: One Global Medical Technology Ltd.

Raised: $30.0M

Round: Series B

Funding Month: June 2023

Lead Investors: AXA IM Alts

Additional Investors: Capria Ventures, Angaza Capital, Anne Wojcicki, Flatworld Partners, Global Ventures, Tencent, Ohara Pharmaceuticals, LCY Group, WTI, and AAIC

Company Website: https://heliumhealth.com/

Software Category: Electronic Medical Records and Hospital Management Information System (EMR/HMIS) solution

About the Company: Helium Health was founded in 2014 by Adegoke Olubusi, Tito Ovia, and Dimeji Sofowora to provide a technology and insight-driven backbone for Africa’s healthcare systems. Helium Health is a healthtech company that provides SaaS tools, financing, and insights for healthcare providers and public health organizations. Helium Health focuses on leveraging technology to effectively manage healthcare records in Africa. Helium Health provides a suite of technology for healthcare providers, payers, and patients across Africa, the most prominent of which is its maiden electronic medical records (EMR) and hospital management information system (HMIS) for emerging markets.

Source: https://techcabal.com/2023/06/05/helium-health-secures-30m-funding-to-power-healthcare-financing/

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