HealthCap Africa Launches HealthTech Unicorns Report 2.0 in Lagos

…Charts bold future for Africa’s health innovation

Raheem Akingbolu

HealthCap Africa has officially unveiled the second edition of its influential HealthTech Unicorns Report at a high-level physical launch and exclusive Founders Mixer held at the EbonyLife Place, Lagos. Themed “From Insights to Impact: Building Africa’s Next HealthTech Unicorns,” the event brought together leading investors, startup founders, policymakers, and ecosystem stakeholders to explore the future of Africa’s fast-growing healthtech sector.

The 2025 HealthTech Unicorns Report provides a vivid, data-rich, and forward-looking snapshot of a sector that is lean, impact-driven, and increasingly global in reach. With a projected market size exceeding $11 billion, a 23% CAGR, and recent landmark exits like InstaDeep’s $550 million acquisition, the report positions Africa not as a peripheral market but as a launchpad for global healthtech innovation.

The report examines transformative trends, encompassing AI-powered diagnostics, frugal innovation, biotech breakthroughs, and SMS-based women’s health tools, highlighting the continent’s capacity to leapfrog outdated healthcare models. Speaking on its importance, Founder and General Partner at HealthCap Africa, Dr. Ola Brown, said, “Africa isn’t catching up, we’re setting the pace; proving that innovation under constraint can be a competitive advantage. This report is our evidence and our call to action to fund bold founders solving the affordability crisis in healthcare globally.”

Collaborator-in-Chief (CiC)’, TVCLabs, Tom Davies, added, “This report is more than a publication, it’s a blueprint. The most capital-efficient health tech startups in the world are emerging from Africa. We have founders who can solve for Lagos and the world simultaneously and the opportunity is now.”

The event also featured a compelling fireside chat between Dr. Ola Brown and Mrs. Margaret Olele, Chief Executive Officer of the American Business Council Nigeria. Their conversation explored the current state and future of healthcare in Africa, delving into key challenges, emerging investment opportunities, and insights from their experiences in business leadership. They also discussed strategies for supporting healthcare founders and advancing women’s health across the continent’s rapidly evolving healthcare landscape.

Vice President of Finance at LifeBank, a Lagos-based healthcare technology and logistics company, Mr. Oladayo Afolabi, also delivered a presentation on the organization’s work across the continent.

The evening provided a dynamic platform for forging new partnerships and aligning on a shared vision: scaling inclusive, world-class healthtech ventures from Africa to the global stage.

As global donor funding recedes and attention shifts to sustainable, private-sector solutions, HealthTech Unicorns Report 2.0 serves as both a milestone and a call to action. HealthCap Africa closed the event with a direct appeal to venture capital firms, institutional investors, development agencies, and government stakeholders: Do not simply read, fund.

One of the key insights from the report is that it’s Africa’s largest healthtech exit in 2024 came from a biotech company, signalling a growing appetite for deep science ventures across the continent. Also, Telehealth platforms (through Digital consultations and remote monitoring) are already demonstrating tangible public health benefits, reducing adverse maternal outcomes by more than 20%.

Equally compelling is the momentum building around women’s health. Startups like HealthTracka are reaching underserved populations through low-bandwidth channels, such as SMS, with some pilots recording up to a 40% uptake in rural areas, providing evidence of both demand and accessibility.

AI as an equaliser: African startups are delivering cost-effective AI deployments that rival, and in some cases outperform, higher-cost global counterparts.

Over 30% of healthtech founders are returnees with global experience and local insight, bridging innovation and execution.