speedo, a health technology platform that brings hospital care to homes, has raised $28 million in pre-Series B funding. The round included Bertelsmann Investments, Shinhan Venture Investment and Mars Growth. Returning investor Vertex Ventures Southeast Asia and India, which led Speedoc’s $5 million Series A in 2020, also participated.
Speedoc, based in Singapore, was founded in 2017 by Dr. Shravan Verma and Serene Cai. Services include telemedicine consultations, on-site doctor and nurse visits, virtual hospital wards and ambulance services. Speedoc is available in a total of nine cities, including eight in Malaysia.
dr. Verma told gotechbusiness.com that he became interested in creating an app for on-demand medical services while he was a physician in an emergency department, seeing how many patients had to wait hours for minor ailments. Cai, meanwhile, wanted to create an easier way for people to get medical help, especially in underserved communities, while her family cared for her grandmother, who was severely demented.
Speedoc is currently participating in the Mobile Inpatient Care@Home initiative of the Ministry of Health, Office for Healthcare Transformation, and its hospital partners are National University Health System (NUHS), Singapore General Hospital (SGH) and Khoo Teck Puat Hospital. As part of the program, Speedoc plans to expand its virtual hospital program, which includes a 24/7 patient care team.
H-Ward is one of the key ways Speedoc differentiates itself from other telemedicine platforms, said Dr. Verma, as it standardizes services such as telemedicine, remote monitoring, and work-at-home doctors and nurses for continuous care. Patients can receive frequent medical assessments, 24/7 nursing, intravenous therapies, blood tests, and in-person visits.
“Research and research results have shown that with the same medical care and treatment, patients can recover faster at home,” said Dr. sherma. “We have also been encouraged by our patients advocating for home care and home admission preferences. In terms of the impact on the healthcare landscape in particular, the push for virtual hospitals will allow for more optimal occupancy rates and more capacity for medical staff to treat life-threatening conditions. to deal with.”
Speedoc will use its new funding to expand in Southeast Asia, especially in cities where there is a shortage of healthcare professionals.
In a statement regarding the funding, Jinsoo Lee, director of Shinhan Venture Investment (Global Investment), said: “Healthcare and delivery in Southeast Asia is about to undergo massive changes in the next decade. We believe that the Speedoc champions of the healthcare model will see greater adoption in closing the healthcare gap in the region.”