New Investment: B2B Healthcare Platform, Aumet, Provides AI-Backed Tailored Solutions

By Alireza Masrour Published on April 14, 2023

Saudi-based healthcare technology company Aumet has recently raised $7 million in a Pre-Series A funding round, attracting investments from venture capitalists and private equity firms from around the world. Among the investors who participated in this last round are healthcare investors and pharmaceutical conglomerates such as:

  • AAIC, the healthcare-focused Tokyo-based VC
  • Swiss PE firm AIJ Holdings
  • Hamad Ali Sagri family office
  • Tijah Holdings
  • Cigalah Group
  • And, Shorooq Partners

Aumet, a MENA AI-enabled B2B healthcare platform, uses predictive analytics to forecast the procurement of products for pharmacies. This solution results in significant cost savings and greater efficiencies in the supply chain of the 10,000+ pharmacies who use Aumet across three core markets: Saudi Arabia, Jordan and Egypt.

Meet the team behind Aumet

Aumet Quote Graphic.001

“With this round of funding, we will continue to innovate and improve our platform, providing more value to our customers and helping to improve the overall healthcare experience for all," said CEO Yahya Aqel, a serial entrepreneur with two successful exits.

Aumet is led by Yahya Aqel, Adel Haddad, Yahya Al Najjar, and Ahmad Smadi, who each come with extensive experience in their respective domains. Plans on the horizon are to further develop the company's AI capabilities and expand its reach to more pharmacies around the world, providing greater access to affordable healthcare products for consumers. This will ultimately achieve the platform's promise to secure the lives of billions of people by digitalizing the medicine and medical procurement cycle globally.

Why we were excited to invest

Back in 2017, we at Plug and Play saw the potential of Aumet and decided to invest $50k in their seed round, eager to be a part of their journey in the Middle East region. The decision to invest in Aumet was not only based on their innovative business model, but also on the passion and dedication displayed by the founding team.

Aumet impressed us with their unwavering commitment towards their vision. Their passion for revolutionizing the healthcare industry was palpable, and their determination to bring about positive solutions was evident in every aspect of their business. The founders' deep domain expertise and their ability to articulate a compelling vision for Aumet's future growth was appealing.

Our decision to invest was mostly about partnering with a team that shared the same values and vision for the future of healthcare in MENA. We were confident in Aumet's potential to disrupt health tech and make a positive impact in the region. As the years have passed, Aumet has made remarkable progress. We've seen the company grow and evolve, achieving significant milestones along the way. At Plug and Play, we're proud to have been an early investor in Aumet's journey. Plug and Play remains committed to continuing their partnership with Aumet and supporting their future endeavors as they continue to make a meaningful impact in the healthcare industry.

At Plug and Play, we fast-trackinnovation in the healthcare industry. Connect with us to find more disruptive startups in our ecosystem.