Singapore’s Speedoc closes $5m Series A led by Vertex Ventures Southeast Asia and India

Speedoc

Singapore-based digital health platform Speedoc has closed a $5 million (S$6.7 million) Series A round led by Vertex Ventures Southeast Asia and India. Other investors who participated in the deal include Decacorn Capital and Global Grand Leisure.

The firm last raised a $1.8 million (S$2.4 million) seed round last year from Asian family offices such as Footprints Investments and Medic Everlasting Discovery.

Speedoc was founded in 2017 by Duke-NUS Medical School graduate, Dr Shravan Verma. It operates as a virtual clinic and hospital care provider, combining physical and digital services to provide healthcare to patients in their homes. Its services include house call doctors, nurses, medication delivery, telemedicine, remote diagnostics and health monitoring.

“We are looking to enable any home to mirror the facilities of a hospital room, with tools like continuous remote monitoring, telemedicine, and blended clinical pathways; empowering both patients and medical professionals alike,” said Dr Shravan Verma, founder and chief executive officer, Speedoc.

“As Singapore’s population ages, there will be an overall increase in the need for medical services. Speedoc is looking to solve this gap by advancing digitally accessible healthcare services,” he added.

The funds will be used to develop its technology and product line, particularly its Chronic Disease Home Management (CDHM) service, a fully home-based solution allowing patients with chronic diseases such as diabetes, high blood pressure and high cholesterol to better monitor their conditions. Through CDHM, patients will be able to consult a doctor via teleconference, schedule a home visit from a doctor, or personally manage their medical history and habits.

“We believe in Speedoc’s vision to make healthcare accessible and affordable for patients through digital means. With the enduring effect of the pandemic, we see immense potential for such innovative digital healthcare services to address the medical needs of many populations,” said Carmen Yuen, Partner at Vertex Ventures SEA & India.

Speedoc is also looking into market expansion in Southeast Asia, beyond its existing presence in Singapore, Kuala Lumpur and Johor Bahru in Malaysia. The firm currently has 70 full-time and part-time doctors under its roster across these three cities.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.