Singapore's Speeddoc gets $28m pre-Series B round

Vertex led the company’s USD 5m Series A in 2020. The proceeds of the new round will be used to develop Speedoc’s virtual hospital concept throughout Southeast Asia.

Founded in 2017, the company provides services such as telehealth consultations, on-site doctor and nurse visits, virtual hospital wards, and ambulance hailing. Its operational footprint covers nine cities in Singapore and Malaysia. During the COVID-19 pandemic, the company supported Singapore’s home recovery programmes and home vaccination teams, particularly in the elderly segment.

Speedoc claims pilot trials indicate that home-based care under a virtual hospital model is effective, with patient recovery duration similar or reduced compared to those admitted to hospitals. The company believes its approach can help address two of Southeast Asia’s most pressing healthcare concerns: ageing populations and a shortage of nurses and other medical staff.

It is working with National University Health System (NUHS), Singapore General Hospital (SGH), and Khoo Teck Puat Hospital (KPTH) on a two-year virtual ward services pilot. The company also wants to expand use of H-Ward, its integrated monitoring platform that standardises and combines different services needed for hospital care at home.

“Healthcare provision and delivery in Southeast Asia is poised for tremendous change in the next decade. We believe the healthcare model Speedoc champions will see greater adoption in meeting the healthcare gap in the region,” said Jinsso Lee, a director at Shinhan Venture Investment.

Several other start-ups in Southeast Asia are pursuing technology-enabled decentralisation of healthcare services, with an emphasis on virtual consultations, in-person appointment booking, and prescription issuance. The likes of Singapore’s Doctor Anywhere, Indonesia’s Halodoc, and Philippines-based KonsultaMD have all received VC funding.

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• Topics
• Southeast Asia
• Healthcare
• Technology
• Early-stage
• Singapore
• Vertex Ventures
• Bertelsmann Asia Investments