Sotech, an Egypt-based healthtech, and IoT solutions startup has raised USD 1 Mn in a pre-Seed funding round led by Innlife Investments and Al Raya Kuwaiti, a key corporate investor. The startup plans to utilize its newly acquired funds to scale to 500 venues and expand its market in Saudi Arabia. It also will use it to avoid, track, and contain infectious diseases.
Sotech specializes in smart IoT, trackable out-of-home advertising, and data collection to assist clinics in better understand their visitors’ volume, flow, and demographics. The data is also linked to an advertising dashboard, which allows marketers to track the performance of their in-clinic ads.