Jio Health, a Vietnam-based healthcare startup, announced on Monday that it has closed a USD 5 million Series A financing round led by Monk’s Hill Ventures.
The company operates an online healthcare app as well as a brick-and-mortar clinic in Saigon to provide a range of medical services, including pediatrics, primary care, chronic disease management, ancillary care, and more. Jio Health also offers home visits by doctors, a telemedicine portal, deliveries of lab test results, and access to digital medical records.
The new funds will enable Jio Health to scale its operations and capabilities.
Jio Health was founded in 2014 by Raghu Rai and serial entrepreneur Ken Rohl in the United States. The startup was relocated to Vietnam after its founders saw the opportunity to offer tech-driven healthcare services to people who live in Southeast Asia.
The region’s healthcare remains a blue ocean for tech firms. The expenditure on healthcare in ASEAN countries stands at only 4% of GDP, far below the 9.5% average in OECD member nations. Southeast Asia’s diversity also means that healthcare spending rates are highly disparate.
Having launched its full set of services in Vietnam for about a year, Jio Health has about 130 staff members—including 30 people on the tech team and 70 caregivers (including doctors). It also holds the relevant licenses to prescribe and sell over-the-counter drugs.