Halodoc Receives Series B Funding of 919 Billion Rupiah, Led by UOB Venture Management

Medical startup Halodoc today (3/4) announces series B funding of $65 million or equivalent with 919.5 billion rupiah. It was led by UOB Venture Management, involving Singtel Innov8, Korea Investment Partners, WuXi AppTec, and some previous investors.

The capital is to be used for technology and infrastructure development of Halodoc's medical services. In addition, to expand strategic partnership with some hospitals and medical services throughout Indonesia.

Founded in April 2016, Halodoc is an app and website-based that allows its users to connect with more than 20 thousand licensed doctors in Indonesia. They can also make an online booking for lab check-up and drug order through pharmacy network with delivery less than 1 hour - they've partnered up with more than 1300 pharmacies.

"For the past two years, we've grown rapidly as a health digital platform in Indonesia. To date, Halodoc has managed to provide convenient and trusted health service for 2 million users every month, where half of it are outside Java. It's a big potential for us to use technology in order to extend network for conventional medical services, and provide better medical access to the huge population of Indonesia," Halodoc's Founder & CEO, Jonathan Sudharta said.

In 2018, Halodoc users increased to more than 2500%, it reflects the high demand of digital health service.Based on Frost and Sullivan, the value of health industry in Indonesia considered to reach $21 trillion in 2019, increased by $7 trillion in 2014.

Halodoc recently named as the "Most Innovative Start-up in Asia" in November 2018 by Galen Growth Asia, an organization that observes medical startup ecosystem in Asia Pacific.

UOB Venture Management's Managing Director & CEO, Kian-Wee Seah said, "Halodoc vision is to use technology in expanding high-quality medical services access and optimizing the use of limited health resources in Indonesia. Our investment in Halodoc reflects the responsible investment approach to support economic and social advance."

Halodoc has partnered with more than 1400 hospitals and medical services in Indonesia. It allows its users to cut the waiting line in pharmacy and use the insurance facility in hospital.

Aside from hospital, Halodoc also forms a strategic partnership with some of its partners, such as Openspace Ventures, Grup Clemont, Blibli.com, InvesIdea, and Gojek, they've applied Halodoc system for Go-Med service.

– Original article is in Indonesian, translated by Kristin Siagian