Indonesiabased Halodoc Series Astra Temasekasia from Astra, Temasek, and others to fuel pharmacy and health services growth.
Southeast Asian healthcare unicorn Halodoc has raised a $65 million Series C round led by new investor Astra International with participation from existing backers Sequoia India, Temasek, and others.
Indonesiabased Halodoc Series Astra Temasekasia
The fresh capital takes the three-year-old startup’s total funding to $142 million. The company says it will use the new cash injection to continue expanding its pharmacy and other health services, currently available in around 500 cities across Indonesia.
Founded in 2016, Halodoc is an all-in-one healthcare platform that lets users book appointments with doctors, order medicine online, and access various other health services. The company claims to have around 30 million registered users on its platform.
While the vast majority of Halodoc’s revenue still comes from its pharmacy business, the company has been investing heavily in other areas, such as doctor consultations and lab tests, in recent months. These new services now account for around 20% of its total transactions.
Halodoc’s Series C round comes just six months after the company raised a $55 million Series B led by Sequoia India. That round valued Halodoc at $500 million, and the company says its latest funding values it at around $850 million.
While Halodoc is currently only available in Indonesia, the company plans to expand into other Southeast Asian markets. It has already made a number of hires in Vietnam and is planning to launch there later this year.
Astra International is one of Indonesia’s largest conglomerates, interested in a wide range of sectors, including automotive, heavy equipment, mining, financial services, and healthcare. This is the first time that Astra has invested in Halodoc. However, the conglomerate has been an investor in a number of other Southeast Asian startups in recent years, including ride-hailing giant Grab and e-commerce firm Tokopedia.
Temasek, meanwhile, is a Singaporean sovereign wealth fund with a portfolio that includes a number of prominent tech investments, such as Alibaba, Tencent, and Sea Ltd. This is the second time Temasek has backed Halodoc, having participated in the company’s $22 million Series A round in 2018.
Other investors in Halodoc’s latest round include Singaporean VC firm Jungle Ventures, Jakarta-based incubator and accelerator East Ventures, and US-based healthcare-focused fund Vectr Ventures.
With its latest round of funding, Halodoc plans to continue expanding its pharmacy and other health services throughout Indonesia and into other Southeast Asian markets. By making quality healthcare more accessible and affordable, Halodoc is working to improve the overall health and well-being of people in the region.
FAQS
Q: What is Halodoc?
A: Halodoc is a healthcare platform that lets users book appointments with doctors, order medicine online, and access a range of other health services.
Q: What is Halodoc’s mission?
A: Halodoc’s mission is to use technology to improve the quality and efficiency of healthcare delivery.
Q: What is Halodoc’s vision?
A: Halodoc’s vision is to make quality healthcare accessible to everyone.
Q: How many registered users does Halodoc have?
A: Halodoc has around 30 million registered users on its platform.
Q: What countries is Halodoc available in?
A: Halodoc is currently only available in Indonesia. However, the company plans to expand into other Southeast Asian markets.
Q: How will Halodoc use its new funding?
A: Halodoc plans to use its new funding to expand its pharmacy and other health services throughout Indonesia and Southeast Asian markets.
