The pandemic has accelerated the use of telemedicine, virtual care and drug delivery, thus fuelling investor interest in the sector.
Investment has also trickled down to Africa, with large checks going into growth-stage startups.
Lagos- and Texas-based digital healthcare provider Reliance Health is the latest beneficiary and is raising $40 million.
Reports say health tech in Africa should reach a market value of over US$11 billion by 2025. Reliance Health is looking to play a pivotal role in the continent reaching that capitalization.