PH healthtech startup zennya raises $1.2m to fund expansion

zennya, a Philippine-based mobile healthcare and medical last-mile logistics startup, has announced raising $1.2 million in funding to finance its expansion to all major cities in the country.

In a statement, the healthtech startup said the latest capital infusion came from Philippine-focused early-stage venture capital investor Foxmont Capital Partners, DayOne Capital Ventures, and Ignite House of Innovation.

Additionally, prominent families and angel investors from the Philippines and Thailand also participated in the funding round, zennya disclosed.

The investment comes as zennya, founded in 2016 as an on-demand managed ecosystem and marketplace for home wellness and medical services, posted doubled month on month revenue in the first quarter of this year.

For the period of Q4 of 2020 to Q1 of 2021, zennya posted an 84% growth in mobile number activations, 110% growth in the number of patients served, and a 121% growth in the number of repeat customers.

Lab tests and intravenous therapy led to the surge in B2C medical revenues, while wellness products continue to deliver steady revenue from zennya’s loyal customer base.

zennya’s services include COVID-19 tests

The company now offers consumer services including COVID-19 tests, blood tests, vaccinations, pharmaceutical deliveries, telehealth consultations, corporate health services allowing for on-demand pop-up clinics, and B2B services.

The capital raised from this round will be used to expand the company’s service to all major cities in the Philippines. zennya is currently operating in Metro Manila and will be launching in Cebu next month.

Funds will also be allocated for talent acquisition, technology, and business development, according to the company.

‘’We look forward to expanding this year to provide nationwide coverage while preparing for regional expansion, doubling down on our end-to-end home health service delivery technology platform,” says David Foote, founder and CEO of zennya.

Foxmont Capital Partners, one of the lead investors in the funding round, is an early-stage venture capital fund that invests in Philippine startups. Among its other investee companies are Kumu, Kravers Canteen, and Edukasyon.ph.