Flat6Labs Cairo, Afropreneurs, Jedar Capital, OQAL Angel Investors, UI Investments, and several angel investors helped Egyptian health-tech firm Otida secure $340,000 in a pre-seed round headed by Lofty Inc., a Texas-based VC.
Otida, originally “InstadDiet,” was founded in 2021 by Ahmed Tawfic and Ayman Mostafa as an app that serves as a nutritionist, fitness coach, and physician, among other things, for diabetic people who struggle to go through their daily life.
This round will aid in the productization of Otida’s activities as well as the expansion of distribution to cover more patients.
Otida’s business concept depends upon the demands of diabetic patients, according to Ahmed Tawfic, the company’s founder and CEO.
With the advanced technology they are surrounded by nowadays, he believes it is unreasonable that diabetic patients are still trying to find the correct treatment regimen for their specific condition.
To build the finest tailored treatment model for each user on the app, Otida collects a minimum of 100 data points per patient, every day.