The funding round was led by the Dubai-headquartered Foundation Holdings and Venture Capital Branch. Hicma Pharmaceuticals Hikma Ventures, as well as existing investors Global Ventures based in Dubai and DASH Ventures based in Amman.
Abhishek Sharma, chief executive of Foundation Holdings, said in a statement: “Our objective is to support Altibi to reach the heights where its quality, exponential growth and credible brand make it the first publicly listed digital health unicorn IPO in GCC.” Refers to the six-nations Gulf Cooperation Council.
Other Altib shareholders are included Endeavor Catalyst, Middle East venture partners And Al Rashid, the firm said. Investment bank Avad Capital advised Altib to raise funds.
Jason Kothari, a senior adviser to Foundation Holdings, will join Altiby’s board, Altiby said.
