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Helium Health Offers Startups an ‘African Discount’

Fundraising startups need to apply a discount to their valuation to account for being based in Africa, according to the chief executive officer (CEO) of recently-funded Nigerian e-health venture Helium Health. Founded in 2016, Helium Health takes hospitals and clinics instantly digital with its flagship Electronic Medical Records/Hospital Management Information System (EMR/HMIS) product, currently in use by more than 300 healthcare facilities in West Africa. The company this month announced the completion of a US$10 million Series A funding round, led by Global Ventures and Asia Africa Investment & Consulting (AAIC); with participation from Tencent, Ohara Pharmaceutical Co, HOF Capital, Y Combinator, VentureSouq, Chrysalis Capital, Kairos Angels and Flying Doctors Healthcare Investment Company.