Docquity Closes Series B Fund With US$11M Led By Itochu Corporation Japan

Tue Mar 12, 2019 - 8:49am UTC
Docquity 2

Docquity 1

12/3/2019 – The startup announces that US$6M from the series B fund is lead by Japan’s Itochu Corporation,

Other investors who joined in the funding round includes existing investors from SPH Ventures, KDV Holdings, and Joe Hirao, CEO of ‘life media’ company Zigexn Japan.

The company’s series A was held 7 months ago where they raised US$2M led by Genesia Ventures, a Japanese early stage investor.

Founded in 2015 with headquarters in New Delhi and currently based in Singapore, Docquity provides a mobile based platform for medical professionals including doctors, dentists, pharmacists, nurses and more to connect.

The company claims that there are more than 80,000 verified doctors on its platform and more than 70,000 real-world clinical cases have been shared and discussed by the users on its network.

The legitimacy of the users registered on the platform is verified via Docquity’s partnership with various National Medical Associations across Southeast Asia.

Creating an account and engaging in the platform is free for the users. Instead, the company runs on a model where pharmaceutical companies are charged for displaying their products specifications in the app.

Docquity has presence in 7 Southeast Asian countries, including Indonesia where more than half of its user base accounts for. Other countries include Singapore, Malaysia, the Philippines and Thailand.

Speaking about future plans, the company is looking to expand their current platform to create a specialized discussion community called Dx where machine learning algorithms are employed to categorize key discussion points.

This news is published on Reuters.

Lo Jia Thong is a writer that writes about the latest announcements on venture capitals and startups from Southeast Asian countries.