Singapore HealthTech Platform Speedoc Secures US$28 million Funding

Speedoc, a Singapore-based HealthTech platform, has secured a pre-series B funding round for SGD$39 million (US$28 million).

Aside from Vertex Ventures Southeast Asia & India, which led Speedoc’s US$5 million Series A funding round in 2020, other investors in this round include Bertelsmann Investments, Shinhan Venture Investment, and Mars Growth.

The Singapore-based health service provider was established in 2017. Its platform now supports patients and caregivers in nine cities throughout Singapore and Malaysia in addition to the rest of the two countries.

During the Covid-19 pandemic, Speedoc was a crucial ally of the Singaporean government, supporting Home Recovery Programmes (HRP) and Home Vaccination Teams, notably for the elderly individuals.

According to Dr Shravan Verma, Speedoc’s CEO and Co-founder, the funds generated during this round would go toward Speedoc’s initiatives to make virtual hospitals a reality throughout Southeast Asia.

He claimed that as part of the Singapore Ministry of Health’s (MOH) Office for Healthcare Transformation’s (MOHT) Mobile Inpatient [email protected] ([email protected]) initiative, the company was currently working with hospital partners including the National University Health System (NUHS), the Singapore General Hospital (SGH), and Khoo Teck Puat Hospital (KPTH) on a two-year pilot trial for virtual ward services.

Additionally, Speedoc will strive to grow its H-Ward virtual hospital program, an integrated platform that unifies and combines various services required for hospital treatment at home and is overseen by a dedicated 24/7 patient-care team.

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Southeast Asia News
October 16, 2021