Thomson Medical’s digital and WhiteCoat to launch telehealth app for women, children

Thomson X – the digital arm of Thomson Medical Group (TMG) – recently announced a joint venture (JV) with telehealth provider WhiteCoat. Following WhiteCoat’s S$10.8 million Series A funding round led by Golden Equator Ventures and Korea Investment Partners (via the GEC-KIP Technology and Innovation Fund) in 2021, he JV will enable WhiteCoat to capture a more sustainable area of growth, and provide better value for its consumer base. Furthermore, the JV will enable doctors under TMG to cater to a wider patient base. In the year ahead, the JV will also see WhiteCoat launch a mobile application offering online-to-offline healthcare services that meet the health and wellness needs of women and children.

Read the full article here.

Vietnamese proptech firm bags $10.2m investment from Mekong Capital

Our portfolio company Rever – a Vietnam-based prop-tech startup has recently raised US$10.2 million in their latest funding round. Rever plans to use the funds raised to expand into 20 cities, build 200 transaction centers, and employ 20,000 agents in Vietnam by 2025.

Read the full article here.

Jenfi snags US$6.3m in a Series A round

Singapore-based startup Jenfi has raised US$6.3 million in a Series A round with Golden Equator Ventures and Korea Investment Partners (via the GEC-KIP Fund) participating in the fundraising.

Growth financing for early-stage non-profitable startups can be tricky as they don’t fit into the traditional customer mold for financial institutions. However, founders may be unwilling to give up more equity in exchange for funding and that’s where Singapore-based startup Jenfi comes in. Jenfi seeks to provide revenue-based financing of up to US$500,000 with flexible repayment plans and a fully online application process.

Read the full article here.

Meet the CEO: Vault Dragon Is on a Mission To Integrate Healthcare in Asia

“No one said it would be easy, but no one said it would be this hard,” said Vault Dragon Medical‘s Founder and CEO, , as he shares his entrepreneurship journey. Starting as a logistics technology solutions company in 2013, Tseng pivoted his startup to contribute to the digital transformation of Singapore’s healthcare industry.

Read the full article here.

WhiteCoat Raises S$10.8m in Singapore’s Largest Telemedicine Series A Funding Round

WhiteCoat, Singapore’s leading telemedicine platform for on-demand remote healthcare services, has raised S$10.8 million in a Series A round led by the GEC- KIP Technology and Innovation Fund, co-managed by Korea Investment Partners (KIP) and Singapore-headquartered Golden Equator Ventures (GEV). The funding marks the largest Series A raised by a Singapore-based telemedicine company to date, with participation from a decorated list of investors including Deep Tech investor, SGInnovate, and Asia Resource Corporation.

The oversubscribed round follows swiftly from WhiteCoat’s stellar performance amidst unprecedented telehealth adoption and utilisation worldwide. In 2020 alone, the company experienced an 8-time increase in revenue and a 7-fold surge in consultation figures, powered by its cutting-edge end-to-end telemedicine capabilities.

WhiteCoat plans to use the proceeds to cement its dominance in the local telemedicine space and accelerate its regional footprint, in particular, its initial entry into key Southeast Asian markets. The funding will also allow WhiteCoat to enhance its proprietary full-stack telemedicine platform by doubling down on product development and engineering, and further expand its suite of remote healthcare services, which has rapidly diversified in the past year to encompass in-home diagnostic testing, specialist care and mental wellness services in addition to virtual primary care.

Presently, WhiteCoat’s mobile application connects consumers to an extensive and curated network of medical practitioners and allied healthcare professionals for a best-in-class telehealth experience. Bolstered by its ongoing partnership with AIA, the largest publicly listed pan-Asian life insurance group, WhiteCoat is well-positioned to leverage its insurer integration expertise in new markets across the wider Southeast Asian markets.

Bryan Koh, CEO and Founder of WhiteCoat, said, “WhiteCoat has been on a sharp growth trajectory even before COVID-19, propelled by an influx of first-time patients and strong repeat usage from our existing base. We see this investment as an endorsement of our vision in making WhiteCoat the first touchpoint for all healthcare needs. With this investment, we will further develop and scale our technology and services and create transformative and smart healthcare solutions which benefit patients, healthcare professionals and insurers across the region.”

Synclare Kim, Managing Director and Head of KIP Singapore on behalf of the GEC-KIP Fund, added: “WhiteCoat’s demonstrated service excellence and track record of providing high quality, timely and affordable care have set them apart from their counterparts, and we are confident that the team is in the best position to improve accessibility to, and set even higher standards for healthcare in, the broader regional communities. We are thrilled to welcome WhiteCoat into our fold of high growth companies and to provide support in this critical next stage of its development, especially in a time when remote care has never been more important.”

“SGInnovate’s investment interest lies in supporting high potential companies with novel solutions to solve tough challenges. WhiteCoat is one great example that offers a comprehensive and seamless suite of telemedicine services such as primary care, chronic disease management and specialist care, through their one-stop digital platform that enables registration, consultation to prescription and delivery of care to users. We believe that their regional expansion will be a success through partnering with key players like AIA, further driven by current demand for telehealth, and look forward to being part of their growth journey,” said Dr Lim Jui, CEO, SGInnovate.

Investors bet big on Vietnam’s proptech sector as startups diversify into allied services

The burgeoning proptech market in Vietnam is increasingly catching the fancy of investors as startups look to diversify into other allied services such as decor, insurance and mortgage and not just be reliant on listings.

The total amount pumped in by foreign and homegrown investors in the sector touched about $75 million between January 2019 and December 2020, per venture capital firm FEBE Ventures’s estimates. In fact, given the fragmented nature of the sector, the number could well be under-reported, cautioned experts.

Read more on DealStreetAsia.

Proptech startup Ohmyhome launches in the Philippines

SINGAPORE-BASED Ohmyhome has launched in the Philippines, its third location after Singapore and Malaysia, it said on Tuesday.

The proptech startup will serve the Philippine market’s housing transactions with its full suite of end-to-end property services, from professional real estate agents and mortgage, to renovation and more, it said in a press statement.

Read the full article here in The Business Times.

Why recruitment startup Glints is focusing on education

Every fresh graduate faces the same challenge: to find the right job that suits their passion and skills. The process of seeking employment straight out of university can be overwhelming, but there are job matching platforms that help would-be professionals find the perfect match, like Glints.

Read the full article here in TECHINASIA.

Malaysian food delivery startup Pop Meals (formerly dahmakan) raises $18m

Pop Meals (formerly dahmakan), the newest addition to our GEC-KIP fund is the first Malaysian startup to be part of the Y Combinator startup programme. This US$18 million Series B round will see the team further develop the operating system that powers its end-to-end business. Leveraging technology and “cloud kitchens” to optimise their entire value chain, Pop Meals is uniquely placed to cater to the rising demand for food delivery services in Southeast Asia and beyond.

Read more on TechCrunch here.