Singapore-based Speedoc grabs $28 million in Pre-Series B round

Speedoc, a health tech platform that brings hospital care to homes, has raised $28 million in pre-Series B funding.

• Investors in the round include 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.
• In a statement, Speedoc said it will use the new funding to expand in Southeast Asia, especially in cities where there is a shortage of healthcare professionals.
• Based in Singapore, Speedoc was founded in 2017 by Dr. Shravan Verma and Serene Cai. Its services include telemedicine consultations, on-site doctor and nurse visits, virtual hospital wards and ambulance hailing. Speedoc is available in a total of nine cities, including eight in Malaysia.
• Speedoc is one of the technology partners for the two-year pilot of the Mobile Inpatient Care@Home initiative by the Singapore Ministry of Health's Office for Healthcare Transformation.
• As part of the program, Speedoc plans to expand its virtual hospital program, which includes a 24/7 patient care team.
• Southeast Asia digital health market is expected to reach $100 billion by 2025 from $37 billion in 2020, according to projections by McKinsey & Co.  Healthtech startups, MiyaHealth and Ordinary Folk, have also attracted investments early this year to scale their offerings and gain greater market share.