Beyond Capital Ventures, an emerging market focused impact venture firm, has inked its debut transaction in Rwanda by backing Viebeg Technologies, a health tech company that provides medical supplies and equipment throughout central and east Africa through a data-driven procurement platform.
Beyond Capital Ventures joins its co-investment partners Beyond Capital Fund and Eckenstein Geigy Stiftung in Viebeg’s pre-seed funding round. Beyond Capital Ventures’ General Partner Eva Yazhari will join Viebeg’s board.
Yazhari is also co-founder of Beyond Capital Fund, an impact oriented evergreen fund. She floated Beyond Capital Ventures few weeks ago as a separate blind pool for-profit venture fund that chases firms in India and East Africa.
Viebeg Technologies was founded in 2018 by Tobias Reiter (CEO), who has prior experience building AI-driven platforms, and Alex Musyoka (CCO), who has sales and operations experience through senior roles at medical supply companies including Crown Healthcare, East Africa’s largest player.
“As AI enthusiasts and entrepreneurs, Alex and I became aware of the shortage of quality in-time medical supply in Africa and its consequences, namely millions of casualties per year,” said Reiter adding that the potential of technology in solving this tragic problem led to the birth of the company.
Viebeg says it’s data-driven logistics platform — encompassing shipping, warehousing, last-mile distribution, and inventory management — empowers healthcare facilities to better manage procurement, ensuring that they have the right type and quantities of medical supplies in stock to properly treat patients.
By connecting healthcare providers directly with manufacturers Viebeg claims it can generate average cost savings of 40% for its customers.
Yazhari, Beyond Capital Ventures General Partner, said, “The Viebeg team has demonstrated resilience, agility, and the ability to successfully execute in challenging market conditions.”
Viebeg has already established a commercial presence in Burundi and the Democratic Republic of the Congo, serving 410+ customers since the company’s launch. It is targeting an underserved $4 billion market in East and Central Africa, with the Covid-19 pandemic augmenting the need to strengthen medical supply chains across the region and bolstering demand for essential supplies.