Indonesian healthcare platform Halodoc secures US$65 million Series B

Mon Mar 4, 2019 - 6:50am UTC
Halodoc

Halodoc

4/3/2019 – Halodoc, a healthcare startup based in Indonesia, said today that it has raised US$65 million in its Series B funding led by new investor UOB Venture Management, a wholly-owned subsidiary of United Overseas Bank Limited.

Existing investors GOJEK also participated in the funding round, in addition to several new investors such as Singtel Innov8, Korea Investment Partners, and WuXi AppTec.

This is Halodoc’s second major financing after its US$13 million Series A funding led by Singapore-based venture capital firm Clermont Group

The new funding capital, according to Halodoc, will be used to further develop the platform’s technology and health service infrastructure.

Part of the funds will also be used to expand its strategic partnerships with hospitals and healthcare providers across the country.

Since its establishment in April 2016, Halodoc has experienced rapid development as a leading digital health platform in Indonesia.

The startup offers s a mobile app for patients to consult doctors via chat, video, and voice calls. While users can also buy medicines from its partner pharmacies and have them delivered by GOJEK drivers.

Halodoc’s founder and CEO Jonathan Sudharta said, “there is a huge potential for us to use technology to extend the reach of conventional healthcare and provide better access for the archipelago’s large population.”

“The strategic investments and partnerships will enable us to accelerate our efforts in building a platform that improves access and convenience to millions of Indonesian customers,” Sudharta added.

The app currently connects its users to a network of more than 22,000 licensed doctors, from general practitioners to specialists, as well as 1,200 pharmacies across 25 cities in Indonesia for ordering and delivery of medicines.

In 2018, the use of Halodoc has jumped by 2,500 percent and currently serves more than two million customer, half of who reside outside Java that uses healthcare services through Halodoc every month.

Kian Wee Seah, the Managing Director and CEO of UOB Venture Management is happy with the deal, as he commented “our investment in Halodoc reflects a responsible investment approach to support economic and social progress as its core vision lies in expanding the access to quality health services in Indonesia.”

Having a common vision regarding the future of the health industry, Halodoc has also forged collaborations with its investors such as Openspace Ventures, Clermont Group, Blibli.com and InvesIdea.

This news is published on Reuters.

Vivian Foo is a reporter who writes about Southeast Asia’s technology and startup space. The entry point which led her to write about the startup ecosystem was her fascination of the dot-com boom. She is taking a deep dive into how the entrepreneurial mindset works and hopes to share the insights, innovation, and stories of the startups with her readers.