Nigeria’s healthtech startup, CribMD, has reportedly closed a $2.6m seed round for product growth and team expansion.
This fund brings the startup’s total investment to $2.85m.
In February 2021, the tech firm raised an initial investment of $100,000 for this round from a United States accelerator.
According to Techpoint Africa, the Chief Executive Officer of CribMB, Ifeanyi Ossai, was quoted as saying, “Our $2m was oversubscribed. Our investors recognise the value of what we are doing and that we are very profitable at it. We had to turn down several investments even from our current investors.
“We have raised it to specifically do team expansion, product enhancement and marketing.”
With this fund, the startup said it would expand its current team of 36 professionals and grow its network of partners with the intent to focus more on growing its corporate subscribers in Nigeria and other African countries, and working towards servicing the business-to-business and business-to-consumer markets equally.
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