Johannesburg Healthtech Startup Kena Health Secures $2.1m Funding Boost

Johannesburg-based healthtech firm Kena Health has announced the successful completion of a $2.1m seed extension funding round led by Next176, a subsidiary of Old Mutual, as reported by Bizcommunity. An additional $100,000 has been contributed by US-based investor Tofino Capital.

Launched just last year in March 2022, Kena Health has swiftly made its mark in the healthtech industry, offering a unique healthcare platform that has grabbed the attention of investors and customers alike.

The innovative Kena Health App provides a streamlined solution for users to consult with medical and mental health professionals directly from their smartphones. This technology combined with expert clinical teams delivers a seamless healthcare experience, aiming to reduce the cost of healthcare services for millions.

Saul Kornik, CEO and founder of Kena Health, expressed his enthusiasm for the funding, saying, “The Next176 and Tofino Capital funding means that as Kena Health, we are better positioned to realise our ambitions and be part of a wholesale systems change for healthcare in South Africa. We also have our sights set on serving up to 75 million people across the continent.”

Kena Health’s strategic positioning has been further solidified by the backing of Swedish-based health tech investor Cardo Health and a local family office. The company’s expansion ambitions will be facilitated by the financial and strategic leverage provided by Old Mutual, one of Africa’s most established financial institutions, Tofino Capital’s access to the developed US healthcare markets, and Cardo Health’s expertise in scaling healthtech startups.

Funds from the seed extension and the subsequent Series A funding will be directed towards Kena Health’s integration into the broader healthcare ecosystem. This expansion will enable Kena Health to improve its patient care services over time. Additionally, the company plans to broaden its market strategy to include business-to-business sectors such as employers, offering them cost-effective primary care solutions for their workforce.

Kornik further commented on the company’s vision: “Kena Health plays an important role as an entry point into the larger healthcare system. We envision Kena Health offering a broader set of clinical services, and integrating into a network of healthcare providers to expand coverage of quality healthcare while lowering the overall cost of care to millions of people.”

He disclosed that the final negotiations to conclude the seed extension funding are underway and that Series A investment opportunities are expected to open within the year.

Picture: Facebook / @Kena