oDoc team

Sri Lanka’s oDoc raises US$1M to offer patients holistic digital medical experience

The story: Health-tech startup oDoc closed US$1 million in a pre-series A funding round led by Techstars.

Other investors: Hustle Fund, Unpopular Ventures, Cherif Habib (co-founder of Dialogue), Vir Kashyap (co-founder of Babajob), LPs Bill, Leonard Lynch.

More about the story: The Sri Lanka-based company is looking to offer patients a holistic digital medical experience by connecting patients with doctors for video consultation, fulfilling diagnostics, and providing medicine delivery.

oDoc claims to have grown its revenues five times in 2020 whilst maintaining healthy unit economics. This growth was fuelled by the pandemic, which was a watershed for the global telemedicine industry, it said.

The startup currently has a network of over 1,000 partner doctors across Sri Lanka, India, the Maldives, and Cambodia.

Asia Pacific records a decline in fintech investment

The story: Fintech companies in the Asia Pacific have attracted US$11.6 billion across 565 deals from venture capital, private equity, and M&A in 2020, compared to US$16.8 billion in 2019, reaching a six-year low, according to KPMG’s Pulse of Fintech H2′20 report.

Also Read: In brief: Grab to create 350 new jobs in Singapore; Battery Smart raises capital

The reason: The pandemic could be noted as one of the causes as there was a decline in investment in emerging markets during the second half of the year.

Thailand, UAE join China’s drive for a digital currency system

The story: China along with Thailand, UAE, and Hong Kong are exploring a digital currency cross-border payment system together, according to Kr-Asia.

More about the story: The goal is to examine blockchain technology to build a system that will handle overseas transfers in digital currencies issued by central banks.

While China is not the only country testing out digital currencies it is noted to be the furthest ahead, reports CNBC. The country has already conducted domestic trials for its digital yuan in cities like Shenzhen, Suzhou, and Beijing.

Yesterday, the Governor of Bank Indonesia Perry Warjiyo, also announced that Indonesia will issue a digital currency.

Image Credit: oDoc




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