Singapore-based telehealth startup Doctor Anywhere has secured around $27 million in a fresh funding round for its expansion plans amid the coronavirus pandemic.
Investors who participated in the funding round for Doctor Anywhere includes Australian venture capital fund Square peg, EDBI – the investment arm of Singaporean government and healthcare group IHH Healthcare.
Other participants in this round of funding are Pavilion Capital and existing shareholder Kamet Capital, bringing Doctor Anywhere’s total capital base to exceed $40 million.
According to founder and chief executive officer Wai Mun Lim, Doctor Anywhere will use the money raised in the latest funding round to expand its presence in Singapore, Thailand, and Vietnam.
The telehealth startup will use the funds for its extensive expansion to augment the region’s healthcare landscape through digital transformation, with the support of strong local and regional partners.
The company also plans to double its current workforce of 200 employees across the region over the next couple of years.
Wai Mun Lin told the media, “During a time when public health systems are being stretched, telehealth can play a part in keeping these services from becoming overwhelmed.”
“While Doctor Anywhere has always ensured that we operate with sound unit economics, the Covid-19 situation does reinforce the need for us to continue to use capital wisely and in a sustainable manner, and to ensure that we continue.”
Last year, Doctor Anywhere entered into a partnership with ViettelPay to provide online healthcare services in Vietnam.
During the same period, the telehealth startup also signed an agreement with Vietnam’s Bao Minh insurance, which will provide the insurer’s more than 7 million customers access to Doctor Anywhere’s suite of digital healthcare solutions.