Gates Foundation, Prudential back Halodoc’s extended Series B round

Halodoc co-founder and CEO Jonathan Sudharta.

Indonesian healthcare platform Halodoc on Thursday announced that it has bagged funding from the Bill & Melinda Gates Foundation, Allianz X and Prudential as part of an extended Series B round.

The startup had in March raised $65 million in a Series B funding round led by UOB Venture Management. The round was backed by Go-Ventures, Singtel Innov8, Korea Investment Partners and WuXi AppTec.

Halodoc did not disclose how much it raised from the three new investors but said it has now raised close to $100 million since its inception in 2016, making it one of Indonesia’s largest funded non-unicorn startups.

Halodoc operates an online integrated healthcare application that offers drug delivery (ApotekAntar), online doctor consultation (HubungiDokter) and on-demand health checkups (Lab Services).

The company claims to serve around 7 million patients per month throughout Indonesia with 80 per cent of patients residing outside the main cities of Jakarta and Surabaya.

“As an online healthcare application with a mission to simplify healthcare, these strategic partnerships will help improve the quality and number of healthcare options available to Indonesians living outside major cities, particularly outside of Java where healthcare infrastructure is less established,” said Halodoc CEO Jonathan Sudharta.

“Through this strategic partnership with Halodoc, we will strengthen our 24×7 Digital Healthcare services and expand our Health Ecosystem that complements our range of health services and healthcare provider network. By providing our customers access to healthcare, anytime and anywhere, we will be able to expand insurance protection for more Indonesians,” said Todd Swihart, Managing Director of Allianz Health & Corporate Solutions, Allianz Life Indonesia.

Halodoc is one of several healthtech players looking to seize opportunities in Indonesia’s healthcare industry said to be worth $30 billion.

Despite the proliferation of healthtech startups in the country over the last few years, only a few have received significant investments from venture capital firms.

Halodoc’s most notable competition arguably comes from SoftBank-backed Alodokter, which last disclosed raising $9 million in funding in 2017.