• Sun. Nov 27th, 2022

Singapore-based digital health platform Speedoc has raised $17.5 million in fresh funding, according to regulatory filings seen by DealStreetAsia.

The filings with Singapore’s Accounting and Corporate Regulatory Authority only reflect the equity funding received so far. Overall funding could be larger or have other components such as debt. DealStreetAsia has reached out to Speedoc for confirmation but has yet to receive a reply.

According to the filings, fresh funding came from existing investor Vertex Ventures Southeast Asia and India as well as new investors including Shinhan Venture Investment, Xyris and Erste WV Gutersloh, a wholly owned direct subsidiary of Germany-based conglomerate Bertelsmann.

The digital health platform closed a $5 million Series A round in December 2020, which was led Vertex. Other investors that participated include Decacorn Capital and Global Grand Leisure.

In 2019, the startup raised $1.8 million in a seed round from Asian family offices such as Footprints Investments and Medic Everlasting Discovery.

Speedoc was founded in 2017 by Duke-NUS Medical School graduate Dr. Shravan Verma. It operates as a virtual clinic and hospital care provider, combining on-site and digital services to provide care for patients in their homes. Services include house-call doctors, nurses, medication delivery, telemedicine, remote diagnosis and health monitoring.

“Our end-to-end care system connects qualified medical professionals to patients, and delivers different types of care to cater to different types of conditions,” the company says on its website.

Speedoc earlier said it was looking to expand further in Southeast Asia beyond its existing presence in Singapore, Kuala Lumpur, and Johor Bahru in Malaysia.

Digital health startups in Southeast Asia have been attracting increased investor interest. In August, Vietnam-based health care and insurance platform Medici raised $8.5 million in a Series A round led by Singapore-based venture capital company Jungle Ventures. Singapore health tech unicorn Biofourmis raised $20 million from Intel Capital Corporation in July.

Source: Nikkei Asia

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