Sotech, an Egypt-based healthtech and IoT solutions startup, has raised $1 million in a pre-Seed funding round led by Innlife Investments and Al Raya Kuwaiti, a key corporate investor.
The Egypt-based startup, which was founded in 2020 during the pandemic, specializes in smart IoT, trackable OOH advertising, and data collection. Sotech is linking the worlds of offline advertising and online campaigning by delivering completely integrated technology and hardware, as well as an integrated set of software and tracking platforms.
Sotech provides clinics with a seamless app that lets them understand the volume, flow, and demographics of their visits. The data is also linked to an advertiser dashboard that allows advertisers to track the performance of their in-clinic ads.
The Cairo-based startup currently operates over 200 clinics in the Cairo medical field and is expanding over 60 more every month. Sotech provides a venue management solution for hospitals and clinics that engages visitors from the moment they walk in and follows them via several display touchpoints during their visit. The fully tech-integrated system not only assists clinics in managing their operations, but it also monitors data that can be connected to a third-party advertiser who can then retarget visitors depending on their in-clinic activities, all of which is analyzed using smart gear on-site.
Sotech was founded by a collection of tech, marketing, and healthcare enthusiasts with the simple goal of making “Out of Home” advertising traceable via software solutions. Their decision to operate in healthcare clinics stems not only from the fact that it is one of the most underserved industries in terms of digital transformation, but also from the belief that combining technology to create new avenues of data analytics could be a powerful weapon against infectious diseases and other endemic outbreaks.
The Egypt-based startup intends to use its newly acquired funds to extend its operations to 500 locations and grow its market beyond Egypt, including Mecca and Madina. Sotech intends to use its technology to avoid, track, and manage infectious diseases by developing a centralised network for the millions of data sets collected around the country.