Singapore-based Smarter Health has announced an SG$5.15 (US$3.8) million in Series A fundraise led by East Ventures.
Orbit Malaysia, Citrine Capital, HMI Group, and Emtek also co-invested.
As per a press statement, the health-tech company will use the funds primarily for product development and market expansion in Southeast Asia.
Founded by Liaw Yit Ming (CEO) and Dr Lee Hong Huei (COO), Smarter Health is a unified platform that facilitates secure data exchanges between insurers, healthcare providers and patients throughout the entire healthcare journey. This enables the use of data to guide decision-making for patients and improve the accuracy and speed of claims processing.
The startup claims to have achieved good traction in Singapore, Malaysia, and Indonesia.
Willson Cuaca, Co-Founder and Managing Partner of East Ventures, said: “The COVID-19 pandemic has forced insurers and healthcare providers to reflect and re-strategise on their operations, catalysing digital transformation. Smarter Health is here to make healthcare accessible, affordable, and accountable by providing an AI-powered interoperable platform.”
East Ventures is a sector-agnostic VC firm and is the first investor of Indonesia’s unicorns Tokopedia and Traveloka. Its other notable companies in the portfolio include Ruangguru, Warung Pintar, Kudo (acquired by Grab), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla.
Orbit Malaysia is a series A regional fund co-managed by Kejora Capital and Sunway Group of Malaysia. It is also part of the fund portfolio of Mavcap Malaysia.
Citrine Capital is a principle-based investment firm committed to global sustainable development.
HMI Group is a regional private healthcare provider with a presence in Singapore, Malaysia and Indonesia. It owns and operates two tertiary hospitals in Malaysia. In Singapore, the group operates a healthcare training centre, a primary care clinic chain with 25 locations, and a private one-stop ambulatory care centre.
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