In an intriguing strategic move, Egyptian startup Grinta has officially announced the acquisition of Auto Cure. This development is poised to significantly amplify Grinta’s presence within Egypt’s burgeoning health-tech landscape. This marks Grinta’s third acquisition since its inception in 2021, a testament to the startup’s dynamic expansion strategy.
Grinta’s journey of growth began with the acquisition of PH Store, a pioneering B2B marketplace for pharmaceutical products, swiftly followed by the integration of EME, a formidable software development company. With the addition of Auto Cure to its portfolio, Grinta is set to fortify its market influence and drive innovation in the sector.
A noteworthy aspect of this acquisition is the incorporation of Mohamed Rezk, Grinta’s co-founder and CEO, into the company’s leadership fold as a partner overseeing the commercial team. However, the role that Amr Kamel, the other co-founder, will undertake remains to be elucidated.
Mohamed Rezk expressed his enthusiasm for the collaboration, stating, “Joining hands with Grinta is incredibly exciting for us; our commitment to digitizing the market and delivering customer satisfaction has led us to join Grinta’s brilliant team. We have unlocked a world of possibilities, and together we will be extending our reach not only in Alexandria but throughout the Middle East and Africa.”
Having secured $8 million in seed funding during 2022, Grinta has directed its efforts toward advancing its technological infrastructure and expediting its expansion initiatives across Egypt. With a track record encompassing more than 7,000 vendors and an impressive tally of over 200,000 orders fulfilled since 2021, Grinta has solidified its position as a key player in the market. On the other hand, Auto Cure, with its partnership with over 450 pharmacies and a commendable track record of delivering 5,000 orders since inception, brings a strategic advantage to the table.
This amalgamation of forces between Grinta and Auto Cure is poised to yield substantial gains in Egypt’s healthtech sector, enabling both entities to seize a larger slice of the market share. Notably, 2022 witnessed a significant infusion of $50.5 million in funding for startups within Egypt’s healthcare domain, constituting a remarkable 6.2% of the total funding amassed during the period.
As Grinta and Auto Cure embark on this collaborative journey, the future appears promising for their shared vision of revolutionizing healthcare solutions throughout Egypt and beyond.