SE Asian Health Tech Platform Speedoc Raises $28m

Speedoc, a health technology platform that provides hospital care to homes, raised $28 million in pre-Series B funding.

The round included Mars Growth, Shinhan Venture Investment, Bertelsmann Investments, and Vertex Ventures Southeast Asia and India. 

Speedoc said it would use its newly acquired capital to expand in Southeast Asia. Specifically, it will offer services in cities that lack healthcare professionals. 

More details about Speedoc

Photo Credit: techcoffeehouse.com

Dr. Shravan Verma and Serene Cai founded Speedoc in 2017. They explained to TechCrunch their reasons for creating an app for on-demand medical services.

Dr. Verma said his motivation started when he saw many patients who endured long wait times for minor conditions.

Meanwhile, Cai wanted to give easier access to medical assistance in underserved communities. She gained inspiration from her family, who cared for her dementia-stricken grandmother.

It currently works with Singapore’s Ministry of Health Office for Healthcare Transformation’s Mobile Inpatient Care@Home initiative. 

Speedoc partners with the National University Health System (NUHS), Khoo Teck Puat Hospital, and the Singapore General Hospital (SGH).

It helps patients book home visits by doctors and nurses. Also, Speedoc improves access to non-emergency ambulances and COVID PCR testing.

The company also offers various telehealth services. For example, Speedoc enables video consultations with doctors. 

Its mobile app can help monitor vital signs like blood pressure and cholesterol. Nowadays, telemedicine expanded worldwide due to the demand sparked by the pandemic.

However, Dr. Verma said Speedoc sets itself apart from other healthcare providers with its H-Ward platform.

It enables patients to receive hospital-level care via in-person doctor visits and online monitoring devices. Moreover, a dedicated 24/7 patient-care team ensures high standards.

Dr. Verma said, “With this investment, we look forward to expanding our collaborations with private and public healthcare players to bring hospital-level care into every home and for every person.”

“This would further empower patients and caregivers by providing them with an alternative to recover at home whilst providing them with effective cost-savings.”

“The thrust towards virtual hospitals will complement and ensure better hospital utilization rates, enabling medical personnel to attend to life-threatening conditions in a more efficient manner.”

Conclusion

Speedoc received $28 million in funding to expand remote medical services in Southeast Asia. Yet, the Philippines has a few telehealth platforms already.

Technology continues to shift every aspect of our lives. The Philippines has been adapting to these changes for many years, especially since the COVID pandemic.

You should prepare for its impact on your life by understanding the trends. Fortunately, Inquirer Tech makes it easier by providing the latest news and updates.