Singapore’s Speedoc raises $28m in pre-Series B funding

Singapore-based healthcare platform Speedoc announced that it already closed its pre-series B funding round with $28 million in investments that will boost their efforts to make virtual hospitals a reality across the Southeast Asia region.

The funding round got the support of new investors including Bertelsmann Investments, Shinhan Venture investment and Mars Growth and its constant partner, Vertex Ventures Southeast Asia & India, which led the $5 million Series A funding round in 2020.

Dr. Shravan Verma, Chief Executive Officer and Co-Founder of Speedoc, said, “The healthcare challenges which have erupted all over the world in the last couple of years demonstrates an urgency to transform healthcare delivery for all. That’s why my Co-Founder, Serene Cai, and I created Speedoc to push the boundaries of healthcare beyond current times and ensure that access to quality medical care is convenient, safe, and easy.”

“With this investment, we look forward to expanding our collaborations with private and public healthcare players to bring hospital-level care into every home and for every person. This would further empower patients and caregivers by providing them with an alternative to recover at home whilst providing them with effective cost-savings. The thrust towards virtual hospitals will complement and ensure better hospital utilisation rates, enabling medical personnel to attend to life-threatening conditions in a more efficient manner.“

Based in Singapore, Speedoc was founded in 2017 by Dr. Shravan Verma and Serene Cai. Its services include telemedicine consultations, on-site doctor and nurse visits, virtual hospital wards and ambulance hailing. Speedoc is available in a total of nine cities, including eight in Malaysia.

Speedoc is currently working with partner hospitals like the National University Health System (NUHS), the Singapore General Hospital (SGH) and Khoo Teck Puat Hospital (KPTH) on a 2-year pilot trial for virtual ward services.

Speedoc will use its new funding to expand in Southeast Asia, especially in cities where there is a shortage of healthcare professionals.