The Singapore-headquartered startup now operates in several major markets in Southeast Asia like Indonesia and Vietnam.
Other investors who joined the round include London-based Global Innovation Fund, MDI Ventures of Indonesia, and Endeavor Catalyst of the US. Existing investors 500 Startups, IMJ Investments Partners and Kickstart Ventures also participated in the round.
The oversubscribed round is one of the largest Series A financing for a digital health company in Southeast Asia. mClinica plans to use the proceeds to expand its operations globally.
Founded in 2012, mClinica now connects thousands of pharmacies on common platforms providing access to millions of patients and billions of data points.
mClinica has developed mobile technology to unite pharmacies on a common platform, provide access to new sources of data, and allow for the deployment of data-driven programs that improve patient affordability and health outcomes.
mClinica founder and CEO Farouk Meralli stressed they continue to address the gaps of “basic health data” across many developing countries.
“Trillions of dollars are spent by the public and private healthcare sectors and often there is no data to guide the right programming and policy decisions,” Meralli said. “At mClinica, we are connecting once-fragmented pharmacies on a common platform providing a unified set of global health data that has never been available before. Our goal is to rapidly transform the availability and quality of global health data in a matter of months not decades.”
Unitus Impact managing partner Partner Beau Seil noted that they view mClinica as a “systems changing” company that can fundamentally change the face of health care in developing countries.”
Since raising its seed round in 2014, mClinica went on to grow its network of pharmacies, won international pitching competitions, and even acquired an equity stake in a fellow healthtech and Software-as-a-Service (SaaS) firm Medix in the Philippines in 2015.