US$28 million funding for Singapore HealthTech platform Speedoc

Singapore-based HealthTech platform Speedoc, has closed a pre-series B funding round worth US$28 million (S$39 million).

Investors in this round include Bertelsmann Investments, Shinhan Venture investment and Mars Growth, besides Vertex Ventures Southeast Asia & India, which led Speedoc’s US$5 million Series A funding round in 2020.

The Singapore-based online and offline health provider was founded in 2017. Its platform is now available in nine cities across Singapore and Malaysia and serves patients and caregivers across both countries.

Speedoc was a key partner of the Singapore government during the Covid-19 pandemic, helping to support Home Recovery Programmes (HRP) and Home Vaccination Teams, particularly for the elderly segment.

Speedoc’s CEO and Co-founder Dr Shravan Verma, said the funds raised during this round would be channelled towards “Speedoc’s efforts to make virtual hospitals a reality across the Southeast Asia region”.

He said the company was currently working with hospital partners such as the National University Health System (NUHS), the Singapore General Hospital (SGH) and Khoo Teck Puat Hospital (KPTH) on a two-year pilot trial for virtual ward services, as part of the Singapore Ministry of Health (MOH) Office for Healthcare Transformation’s (MOHT) Mobile Inpatient Care@Home (MIC@Home) initiative.

Speedoc will also look to expand its H-Ward virtual hospital programme, an integrated platform monitored by a dedicated 24/7 patient-care team that standardises and combines different services needed for hospital care at home.