Singapore healthtech firm Speedoc raises $5m in a series A round (Copy)

Singapore digital health platform Speedoc has closed a S$6.7 million (US$5 million) series A round that was led by Vertex Ventures Southeast Asia and India. Venture capital firms Decacorn Capital and Global Grand Leisure also participated in the financing round, according to a statement.

Founded in 2017, Speedoc sends doctors and nurses on house calls and provides medication delivery services. It complements its physical services with digital ones by also offering telemedicine, remote diagnostics, and health monitoring.

The Singapore-based company will deploy the new funds to expand its reach locally. This would include working with industry partners, setting up virtual hospital schemes, and leveraging AI and machine learning to create personalized treatment plans.

The fresh capital will also be used to develop its in-house Chronic Disease Home Management system, a home-based management solution for chronic diseases such as diabetes, high blood pressure, and high cholesterol.

With one in four Singaporeans over 40 years of age suffering from at least one chronic disease, Speedoc is set to cater its services to an increasingly aging population in the city-state.

“As Singapore’s population ages, there will be an overall increase in the need for medical services. Speedoc is looking to solve this gap by advancing digitally accessible healthcare services,” said Shravan Verma, founder of Speedoc.

The company currently operates in Singapore and Malaysia and plans to expand into the high-density capital cities in Southeast Asia. Speedoc competes with similar firms such as Grand Grounds, Quyi Network, and Yuntai Network in the healthtech industry.

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https://www.techinasia.com/singapores-healthtech-firm-speedoc-lands-5m-series-funding