COVID-19 has spurred the adoption of telemedicine services across Southeast Asia. Major players reported a more than four times spike in teleconsultations and a two-fold increase in daily active users at the height of the pandemic. Industry insiders believe the crisis has fast-tracked telemedicine adoption in the region by five years.
Southeast Asia-based telemedicine startups have inked 10 deals so far this year, on par with 11 fundraising transactions during the whole of 2019. The total deal value, however, dropped significantly due to the absence of large deals, such as the $65 million raised by Indonesia’s Halodoc in its Series B round last year.