Nabta Health closes second tranche of $3M pre-Series A

DUBAI — Nabta Health has completed the second close of its ongoing $3 million pre-Series A round, with the size of this tranche undisclosed.

Phoenix Venture Partners, the ADGM-based firm that earlier this month completed a roughly $23 million debut fund raise, led the close, a mix of primary and secondary shares. PVP founder and chief executive Steve Khayat joins the board, with Dr. Mussaad Al-Razouki stepping off. The round's first close of $2 million was announced in November 2025.

Founded in 2017 by chief executive Sophie Smith, Nabta began as a women's health platform and has since repositioned toward AI-powered preventive healthcare for employers, insurers and providers. Its products include the Aya AI assistant, a wellbeing partnership with LVL and a Women's Health Centre of Excellence with Clemenceau Medical Center Hospital in Dubai.

The structure is a sign of the times for mid-stage healthtech in the Gulf: rounds are being closed in tranches, and secondaries are being used to keep early cap tables moving while new leads price in. An ADGM fund making this a visible early bet also signals where Abu Dhabi's newest vehicles intend to hunt.

Watch whether Nabta names a full Series A lead now that the pre-Series A is filled out, and how the employer channel performs against its women's health roots.

Fintech Gate first reported the close.