S’pore telehealth startup Doctor Anywhere secures US$40.8M funding to fuel healthcare innovation

In a resilient move amid a global funding downturn, Doctor Anywhere (DA), a tech-led healthcare company headquartered in Singapore, has successfully closed a US$40.8 million Series C1 extension round. The funding round saw participation from prominent investors such as Square Peg and Novo Holdings.

The additional capital injection is slated to accelerate next-generation healthcare innovation within the company and strengthen its presence in secondary care.

Doctor Anywhere aims to intensify efforts in product innovation, building a vertically integrated digital healthcare ecosystem to meet the growing demand for comprehensive and connected healthcare solutions that prioritise patient experiences and outcomes.

Despite challenging market conditions, the company’s robust performance and business model have attracted significant investment. Doctor Anywhere’s impressive growth has been fuelled by rapid customer acquisition, continuous product innovation, regional expansion initiatives, and the recent acquisition of specialist healthcare group Asian Healthcare Specialists.

These milestones have firmly positioned DA as a key player in the healthcare sector, poised to shape the future of healthcare in the region.

Tushar Roy, Partner at Square Peg, emphasised the firm’s confidence in Doctor Anywhere’s growth trajectory, stating, “Our continued investment underscores our strong conviction in DA’s growth trajectory and its emergence as the dominant digital health platform across South East Asia.”

Empowering users to take charge of their health

Founder and CEO of Doctor Anywhere, Lim Wai Mun, expressed excitement about the possibilities that generative artificial intelligence (AI) offers to advance their goal of empowering individuals to take charge of their health and well-being.

He noted, “In the next phase of Southeast Asia’s healthcare evolution, our goal is to empower individuals to take charge of their health and well-being with early detection and preventive measures against chronic illnesses.”

Dr. Amit Kakar, Senior Partner and Head of Novo Holdings Asia, highlighted their commitment to fostering personalised and intuitive healthcare experiences that lead to better health outcomes. He stated, “Our investment in Doctor Anywhere reflects our commitment to fostering personalised and intuitive healthcare experiences that result in better health outcomes. We firmly support the company’s vision to deliver patient-centric care through innovative technology.”

Doctor Anywhere has set itself apart with a tech-driven approach, leading to innovations like the industry’s first online supervised tele-antigen rapid testing (ART) service.

Building on this foundation, the company aims to introduce new service offerings, strengthen strategic partnerships, and explore acquisition opportunities to comprehensively fulfil and empower individuals’ healthcare needs throughout their health journey.

Featured Image Credit: Doctor Anywhere