US VC firms invest in Ghanaian start-up Berry Health
US-based equity capital firms Lightspeed Venture Partners and General Catalyst have invested $1.6 million in Africa-focused health-tech start-up Berry Health.
The London-based consumer health start-up intends to level access to healthcare in Africa, starting with mental health, sexual health and dermatology.
Founded by Dr Fredua Akosa, a British-Ghanaian medical doctor and public health expert, Berry Health is a consumer health start-up that offers remote diagnosis and treatment for chronic medical conditions.
In a statement announcing the investment, Berry Health says Africa currently has the highest rate of clinically diagnosed depression and suicide globally; according to the World Health Organisation, the second highest incidence of sexually transmitted infections, and a rapidly accelerating chronic disease burden.
For this reason, Lightspeed says that’s why it is backing Berry Health to equalise access to healthcare across the continent to provide remedies to affected communities.
Partner at Lightspeed, Paul Murphy, says: “Lightspeed understands what it takes to build a successful technology-based healthcare business in various markets around the world.
“Our experience and longstanding relationship with Fredua, coupled with his unique insights on the gaps for patients across sub-Saharan Africa, made us extremely excited to partner with Berry Health. We can’t wait for Fredua and the team to bring access to world-class healthcare to Africa.”
Angel investors also participated in the fundraising round, including Reddit COO Jen Wong; Thirty Madison co-founders, Demetri Karagas and Steven Gutentag; New York tech lawyer and VC Ed; and Betsy Zimmerman, as well as former US Surgeon General Dr Regina Benjamin.