Vantage Point: Astra International bets big on healthtech with Halodoc

Vantage Point: Astra International bets big on healthtech with Halodoc

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This weekly newsletter chronicles top digital themes and trends playing out in SE Asia, especially Indonesia. We will decode policy and regulatory changes affecting digital economy sectors, crunch earnings data of top players, track developments related to gig economy workers and attempt to piece together ecosystem buildouts in some of the fastest-growing, venture-backed plays. You can access the previous editions of the Vantage Point weekly posts here.

Executive Summary

  • Astra sees promise in Halodoc model
  • Launch of GoPay app will elevate GoTo Financial to a new level
  • Astra International eyes used car space with Tokobagus

Astra sees promise in Halodoc’s business model   

Leading Indonesian digital health platform Halodoc recently raised $100 million in a Series D funding round led by Indonesian conglomerate Astra International and joined by Openspace Ventures and Novo Holdings.

The latest round brings Astra International’s total investment in Halodoc, through Astra Digital Internasional, to $135 million and raises its stake in the platform to 21.04%.

Other than Halodoc, Astra International also has a stake in leading private hospital operator Medikaloka Hermina, underlining its commitment to the healthcare space. 

Astra International has been increasingly active in the digital economy after the sale of its stake in Bank Permata to Bangkok Bank Public in 2020. 

Its other key investments in the digital space include a significant investment in GoTo Gojek Tokopedia, a stake in agritech firm Sayurbox, logistics startup Paxel, and fintech player Mapan. 

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