Singapore's mClinica raises $6.3m Series A round
US-based venture capital firm Unitus Impact has led a $6.5 million Series A funding round for Singaporean healthcare technology start-up mClinica.
MDI Ventures, Global Innovation Fund and Endeavor Catalyst also participated alongside investors in the company’s 2014 seed round, including IMJ Investment Partners, Kickstart Ventures and 500 Startups. The capital will be used to expand operations globally.
Founded in 2012, mClinica's mobile platform allows pharmacies to access new sources of data and thereby improve health service outcomes. It aims to accelerate the development of government healthcare policies in Southeast Asia by providing previously inaccessible data to regional pharma companies, governments, non-government organizations and academic institutions.
“We view mClinica as a systems-changing company that can fundamentally change the face of healthcare in developing countries,” Beau Seil, managing director at Unitus, said in a statement. “Due to the highly fragmented and multilayered nature of pharmaceutical supply chains, there are massive data gaps that affect the delivery of essential medicines and health services in the developing world.”
The company claims to have connected thousands of pharmacies in Indonesia, Vietnam and the Philippines. It said it was now engaging with several governments seeking to employ data-driven tools to improve the delivery of healthcare in emerging markets.
Healthcare investment in Southeast Asia is being driven by a combination of increasing technology penetration, public awareness and ageing populations. The percentage of people over 65 is expected to quadruple in the region by 2050. Recent venture activity in this space includes a $25 million Series B round last week for Singapore healthcare technology company CXA Group led EDBI.
Unitus invests in businesses that improve the livelihoods of the working poor in Asia’s fastest growing economies. It maintains offices in India, Vietnam and Indonesia.
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