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Halodoc raises $80m in series C funding to focus on vaccine rollout
After piloting vaccination drive-thru clinics with the government in Jakarta and Bali earlier this year, the telemedicine start-up says it will use the new funds to help coordinate the vaccine rollout.
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Halodoc has secured US$80 million in its series C funding round to expand its operations and focus on vaccine coordination.
The leading homegrown health tech start-up said on Wednesday that it would use the funds to upgrade the platform and expand market reach in several healthcare businesses. Halodoc’s three main service lines are drug delivery services, virtual consultations and patient appointment bookings.
Led by Indonesian automotive giant Astra International, participants of the series C funding also included Singapore’s Temasek, Denmark’s Novo Holdings, the United States’ Acrew Diversify Capital Fund and Thailand’s Bangkok Bank.
“Halodoc has emerged as the leading health tech provider these past five years. We are very proud to be on the front lines of the fight against the COVID-19 pandemic,” said Halodoc chief executive Jonathan Sudharta in a statement on Wednesday.
The telemedicine company received a strong boost to its business this year when it partnered with the Health Ministry to coordinate the national vaccination drive in certain regions.
It also partnered with on-demand services superapp Gojek to open the first drive-thru vaccination service for the elderly in Jakarta. Halodoc currently operates seven COVID-19 vaccine drive-thru clinics and claims it has vaccinated 80,000 citizens.
“Halococ's appointment booking technology, which was created before the pandemic, has become very useful in helping users to get tested and vaccinated for COVID-19 efficiently and safely,” said Jonathan.
The Health Ministry has also partnered on the government’s vaccine rollout with Chinese telemedicine start-up Ping An Good Doctor, which coordinated with rival superapp Grab in late February to open their first vaccine drive-thru clinic in Bali.
Read also: Bali kicks off drive-thru virus jabs for hospitality workers
The ministry plans to inoculate 181.5 million Indonesians, or roughly 70 percent of the population, by March 2022 to contain the country’s COVID-19 outbreak. Official data show that 6.3 million citizens had been vaccinated as of Wednesday.
However, recent setbacks with shipments of the AstraZeneca vaccine from India, which is facing a tidal surge in cases, has put Indonesia’s vaccination plan at risk of delay.
Read also: Indonesian government promises big, then falters in vaccine procurement
“The pandemic poses a huge challenge to the national health system and we believe that Astra [International’s] investment will help Halodoc continue to provide innovative solutions that will beneft millions of Indonesians,” said Djony Bunarto Tjondro, the automotive conglomerate’s president director.
According to business data compiler Crunchbase, Halodoc has raised at least $65 million through its series B funding stage, which involved Singapore’s UOB Venture Management and Germany’s Allianz X, as well as an undisclosed amount from the Bill & Melinda Gates Foundation.
Founded in 2016, Halodoc currently works with 20,000 doctors, 2,000 medical facilities and 4,000 pharmacies in realizing its vision to reduce healthcare inequality in the country.
