Vietnamese digital well being startup Jio Well being nets $20M in Collection B spherical

Jio Well being, a digital healthcare supplier in Vietnam, has scored $20 million in a Collection B funding spherical led by health-focused investor Heritas Capital from Singapore. 

The investing spherical was additionally joined by Fuchsia Ventures, Kasikorn Financial institution Group, and Monk’s Hills Ventures, which beforehand led its Series A spherical in 2019 when it raised $5 million.

WHAT IT DOES

Launched in 2014, the digital well being startup operates a web-based and offline healthcare ecosystem. On the digital aspect, it supplies telemedicine and e-prescriptions by way of its cellular app on Android and iOS gadgets. On the bodily aspect, it runs sensible clinics and over 300 Jio-branded neighbourhood pharmacies, in addition to affords on-demand dwelling care.

It supplies well being companies, together with main care, continual illness administration, paediatrics and ancillary care companies, via 150 multi-specialty care suppliers on its platform. 

WHAT IT’S FOR

In keeping with a press assertion, its contemporary funds might be used to achieve extra shoppers and employers and launch extra sensible clinics throughout Vietnam, in addition to assist its plan of coming into regional markets “over the approaching years”.

It would additionally deploy its newest funding into rising its supplier and medical assist groups and improve its know-how platform.

MARKET SNAPSHOT

Asia’s consumer-centric digital well being ecosystem continues to develop, primarily driving the area’s general digital well being market development to round $100 billion by 2025 from $37 billion in 2020, as projected by McKinsey & Co. 

Singapore-based startups have attracted investments probably the most because the begin of the 12 months, similar to well being tech agency MiyaHealth and psychological health-focused manufacturers MindFi and Intellect. 

However different Asian gamers have additionally drawn traders’ consideration, such because the Indonesian weight reduction app Sirka, which closed a $2.6M seed funding spherical final month, and H2U Corporation, a digital office health-focused firm in Taiwan, which snapped up $8 million from Foxconn in January.