SINGAPORE (THE BUSINESS TIMES) - Local telehealth start-up Doctor Anywhere on Tuesday (March 31) announced it has raised US$27 million (S$38.4 million) in a Series B round led by Square Peg, EDBI and IHH Healthcare.
Other investors include Temasek's subsidiary Pavilion Capital, and existing shareholder Kamet Capital. The new funds raised brings Doctor Anywhere's total funding to over US$40 million.
The tech-enabled healthcare company will use the funds for regional expansion to Malaysia and the Philippines, while deepening its exposure here in Singapore, said chief executive and founder Lim Wai Mun in a phone interview with The Business Times (BT).
Doctor Anywhere currently has operations in Singapore, Vietnam and Thailand.
The company also intends to expand both its tech and data science teams. "This is the best time for us to enhance our product," Mr Lim told BT.
Founded in 2015, the Singapore-based start-up allows users to consult a licensed local doctor through video consultations on the app. Medication can be delivered to their doorsteps within hours.
Medical history, health reports, and other documents are stored in-app for easy access.
With a network of eight fully-owned offline clinics and 1,300 partner clinics nationwide, Doctor Anywhere now serves over a million users through its online and offline platforms.
As more social distancing measures come into play, more doctors and users have signed up to use our platform, said Mr Lim, adding that the number of users on Doctor Anywhere has more than doubled since the end of January.
During this time, Doctor Anywhere has also deployed its telemedicine platform at ferry terminal custom checkpoints. Those passing the checkpoint with temperatures higher than 37.5 degrees Celsius will be allowed to use the platform and consult a doctor on the spot. The start-up is also providing medical services to home-quarantined individuals, Mr Lim said.
Chu Swee Yeok, CEO and president of EDBI, said: "As a homegrown company, Doctor Anywhere is actively supporting our nation's fight against Covid-19. EDBI seeks to bolster Doctor Anywhere's journey as it continues to champion the adoption of telemedicine to bring healthcare accessibility and affordability to all patients in South-east Asia."
"Our mission is to make healthcare affordable and accessible for everyone, and I feel grateful that our partners share the same vision of transforming the traditionally conservative healthcare industry," said Mr Lim.