Indonesian healthtech startup Halodoc announced that it has raised IDR 920 billion (US$65 million) in a Series B round led by UOB Venture Management. The fresh investment will be utilised to develop Halodoc’s services, allowing it to partner up with more health service and insurance providers. Halodoc aims to simplify access to healthcare in Indonesia.
“This investment and strategic cooperation enable us to accelerate efforts in the development of digital platforms to increase access and convenience for millions of users in Indonesia,” said Halodoc founder and CEO Jonathan Sudharta in an official statement.
Since the end of last year, rumours of Halodoc’s fundraising have been circulating, though the company had denied that it was seeking investors.
The platform offers services like online consultations with over 20,000 licensed doctors, prescription deliveries, and a means to book lab tests. Founded in 2016, the platform has previously raised US$13 million in September 2016, led by Singapore-based VC Clermont Group, along with Go-Jek, Blibli.com, and NSI Ventures. Halodoc is a standalone app, but also has a link from the Go-Med feature within Go-Jek’s application. Go-Jek’s hundreds of thousands of drivers also handle medicine deliveries for Halodoc.
According to Sudharta, Halodoc currently has 2 million monthly active users and over 80% of them are located in parts of the country beyond Java, the country’s most densely populated island. In 2018, Halodoc’s user numbers increased 25-fold in a 12-month period. The platform has collaborated with more than 1,400 hospitals and health service providers in Indonesia. By using the app, users can cut down the waiting time at pharmacies. They can also utilise insurance services offered within the app during hospital visits.
Managing director and CEO of UOB Venture Management, Kian-Wee Seah, said that the firm’s investment reflects his company’s approach of supporting economic and social advancement in Indonesia.
Indonesia is a promising market for healthtech platforms. Yansen Kamto, an investor and entrepreneur at startup ecosystem Kibar, told KrASIA earlier this year that healthcare is a new sector that will grow rapidly and attract investment. IT Minister Rudiantara also shared this belief, as he once stated that healthcare and education are the most promising fields for new unicorns in the country. Moreover, The government has allocated 5% of the state budget to support healthtech advancement within the borders of Indonesia.
Editor: Brady Ng