Latest news with #BeltoneVentureCapital
CairoScene
18-03-2025
- Business
- CairoScene
Egypt's Grinta Expands to Primary Care With Citi Clinic Acquisition
Egyptian pharma-tech startup Grinta is shifting its focus from B2B retail distribution to expand into primary healthcare. Mar 18, 2025 Egyptian healthtech startup Grinta has announced its acquisition of Citi Clinic, a primary healthcare service chain based in Egypt, marking a strategic shift from B2B pharmaceutical distribution to direct patient care. As part of this transition, Grinta has also secured a strategic funding round from Beltone Venture Capital and Raed Ventures, though the investment amount remains undisclosed. By acquiring Citi Clinic, Grinta gains access to a network of over 150,000 patients, integrating offline and online healthcare services. This move reflects a broader industry trend, with major pharmaceutical players like McKesson and Walgreens also transitioning into direct-to-consumer healthcare services. Beyond Egypt, Grinta is expanding its East African footprint, with plans to build a pharmacy chain in Tanzania and develop export partnerships with Egyptian pharmaceutical manufacturers.
Daily News Egypt
16-03-2025
- Business
- Daily News Egypt
Grinta acquires Citi Clinic, secures strategic investments from Beltone VC, Raed Ventures
Grinta, a leading healthcare and pharmaceutical solutions company, has announced its acquisition of Citi Clinic, one of Egypt's most successful primary healthcare service chains. Alongside this milestone, Grinta has secured an undisclosed amount of strategic investment in a funding round led by Beltone Venture Capital and Raed Ventures. The acquisition grants Grinta access to over 150,000 patients, marking its entry into the care sector and reinforcing its commitment to integrating both online and offline healthcare solutions. Mohamed Azab, Co-founder and CEO of Grinta, stated: 'The acquisition of Citi Clinic is a pivotal moment for Grinta. It not only enables us to enter the care market but also allows us to integrate offline and online services to transform the way healthcare is accessed and delivered. We are excited about what lies ahead as we expand our reach and impact.' This move aligns with a global trend of B2B pharmaceutical distributors expanding into direct-to-consumer (B2C) healthcare, following the successful models of companies like McKesson and Walgreens. Grinta aims to replicate this strategy by broadening its healthcare services across Egypt and East Africa. As part of its transformation, Grinta has exited its B2B retail pharmaceutical distribution business in Egypt to fully focus on patient care. The company is also expanding its presence in East Africa by partnering with Egyptian pharmaceutical manufacturers and launching a pharmacy chain in Tanzania through a buy-and-build strategy.
Zawya
06-02-2025
- Business
- Zawya
Egypt: Beltone Venture Capital fuels expansion plans across Africa via investment in LNKO
Beltone Venture Capital, a subsidiary of Beltone Holding, announced a strategic equity investment in LNKO, a trendsetting omni-channel D2C eyewear startup, according to a press release. This investment aligns with Beltone Venture Capital's expansion strategy across Africa. Ali Mokhtar, CEO of Beltone Venture Capital, said: 'This equity investment in LNKO marks a key milestone in our African expansion strategy.' 'By partnering with LNKO, we're backing a visionary company with immense growth potential. Their innovative approach to eyewear and commitment to community empowerment align perfectly with our mission to support transformative businesses across the region,' Mokhtar added. Maha Bennani, CEO and Founder of LNKO, noted: 'We are confident that this collaboration will accelerate our vision of making high-quality, stylish eyewear accessible to even more people across the continent.' LNKO has become a leader in the eyewear market within four years, providing stylish and affordably priced eyewear through a fully digitized value chain. The startup has more than 100,000 customers, 10 points of sale in Morocco, and a robust online presence across 24 countries, which enables it to reshape the eyewear industry. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Wamda
05-02-2025
- Business
- Wamda
Beltone VC invests in Morocco's LNKO to drive expansion across Africa
Egypt-based Beltone Venture Capital, the VC arm of Beltone Holding, has invested in Morocco's LNKO for an undisclosed amount. Founded in 2020 by Maha Bennani, LNKO provides direct-to-customer (D2C) eyewear options, including sunglasses and optical frames, and claims to have served over 100,000 clients. LNKO plans to use the investment to uphold expansion plans across Africa. In 2021, LNKO raised a $335,000 investment from CDG Invest. Press release: We're excited to announce our latest strategic equity investment in LNKO, a trendsetting omni-channel D2C eyewear startup, as part of our continued expansion strategy across Africa. In just four years, LNKO has become a leader in the eyewear market, offering stylish, affordably priced eyewear through a fully digitised value chain. With over 100,000 customers, 10 points of sale in Morocco, and a robust online presence across 24 countries, LNKO is reshaping the eyewear industry and making stylish eyewear accessible to all. Ali Mokhtar, CEO of Beltone Venture Capital, remarked, 'This equity investment in LNKO marks a key milestone in our African expansion strategy. By partnering with LNKO, we're backing a visionary company with immense growth potential. Their innovative approach to eyewear and commitment to community empowerment align perfectly with our mission to support transformative businesses across the region.' Maha Bennani, CEO and Founder of LNKO, added, 'We're thrilled to welcome Beltone Venture Capital as our partner in this next phase of growth across Africa. With their strong track record in supporting successful D2C startups, we are confident that this collaboration will accelerate our vision of making high-quality, stylish eyewear accessible to even more people across the continent.'
Zawya
05-02-2025
- Business
- Zawya
Beltone Venture Capital partners with LNKO to drive eyewear expansion across Africa
We're excited to announce our latest strategic equity investment in LNKO, a trendsetting omni-channel D2C eyewear startup, as part of our continued expansion strategy across Africa. In just four years, LNKO has become a leader in the eyewear market, offering stylish, affordably priced eyewear through a fully digitized value chain. With over 100,000 customers, 10 points of sale in Morocco, and a robust online presence across 24 countries, LNKO is reshaping the eyewear industry and making stylish eyewear accessible to all. Ali Mokhtar, CEO of Beltone Venture Capital, remarked: 'This equity investment in LNKO marks a key milestone in our African expansion strategy. By partnering with LNKO, we're backing a visionary company with immense growth potential. Their innovative approach to eyewear and commitment to community empowerment align perfectly with our mission to support transformative businesses across the region.' Maha Bennani, CEO and Founder of LNKO, added: 'We're thrilled to welcome Beltone Venture Capital as our partner in this next phase of growth across Africa. With their strong track record in supporting successful D2C startups, we are confident that this collaboration will accelerate our vision of making high-quality, stylish eyewear accessible to even more people across the continent.'
