Healthcare tech firm Field in Nigeria raises $11 million in recent financing round.

Field, a Nigerian healthtech company founded in 2015 by Michael Moreland and Justin Lorenzo, has received an initial investment of $11 million from the Bill & Melinda Gates Foundation. This funding will support Field's mission to address maternal mortality, infant and child health, and nutrition challenges in Africa.

The investment will be used to accelerate efforts to enhance maternal and child survival in various contexts. Field's program, which is focused on improving healthcare in rural and urban areas of Kenya and Nigeria, leverages the company's proprietary technology, distribution network, and financial capabilities.

Field's service, aimed at expediting the adoption of new treatments and complementing traditional medicines, will provide expectant mothers in Africa access to new medications. This includes heat-stable carbetocin and calibrated drapes for postpartum hemorrhage treatment.

The company's distribution service, Shelf Life, distributes over 3,000 high-quality products across more than 50 therapeutic areas. Shelf Life reaches over 2,500 pharmacies and hospitals in 24 cities in Nigeria and Kenya, including government facilities, major hospital systems, retail chains, insurance companies, and family-owned drugstores.

The financing solutions offered by Field aim to address financial constraints that often hinder investment in groundbreaking medical procedures. The platform provides trade financing solutions for priority therapies and equipment.

Michael Moreland, CEO and Founder of Field, emphasized the importance of using digital technology to enhance, connect, and finance health systems at scale to improve access to quality care. Moreland stresses that Field's mission is to tackle challenges in the current economic climate that could hinder healthcare advancements without unified systems and processes.

The exact timeframe of the collaboration program between Field and the Bill & Melinda Gates Foundation aimed at introducing innovative solutions for maternal mortality, infant and child health, and nutrition-related challenges is not specified. However, the support from the foundation will enable Field to expedite its efforts to provide better healthcare services to the people of Africa.

In conclusion, the investment from the Bill & Melinda Gates Foundation will significantly contribute to Field's mission of improving healthcare in Africa. By providing access to new treatments, financing solutions, and a robust distribution network, Field is well-positioned to address the challenges of maternal mortality, infant and child health, and nutrition in Africa.