Healthcare provider IHH Healthcare and pharmaceutical firm Novo have backed a $65.7m series C round for Singapore-based online healthcare platform Doctor Anywhere.
Private equity firm Asia Partners led the round, which included Philips Venture, likely an investment unit for medical technology and electronics producer Philips, as well as OSK-SBI Ventures, a vehicle jointly formed by financial services provider SBI Holdings and private equity firm OSK Ventures.
The round was filled out by Temasek’s Pavilion Capital subsidiary, Square Peg Capital, Kamet Capital and EDBI, in addition to a vehicle called MVM1, according to DealStreetAsia, which reported that Novo contributed approximately $15m to the round while Asia Partners supplied $33m.
Founded in 2017, Doctor Anywhere operates an online platform that lets patients book online consultations from a network of certified doctors. It also runs a virtual clinical and a marketplace for products and services including traditional Chinese medicine and health supplements.
Lim Wai Mun, founder and chief executive officer of Doctor Anywhere, said: “We will utilise this funding to further enhance our digital capabilities and scale up on our ability to deliver quality healthcare seamlessly to our users in Southeast Asia.”
Amit Kakar, senior partner and head of Novo subsidiary Novo Holdings Equity Asia, will join Doctor Anywhere’s board of directors, while Novo Holdings Equity Asia senior associate Carol Wang will join the board as an observer.
DealStreetAsia estimated the round valued Doctor Anywhere at about $279m post-money, based on data from the filing.
Square Peg Capital led a $27m series B round for the company in April 2020 that included IHH Healthcare, Kamet Capital Partners, EDBI and Pavilion Capital, Kamet Capital having already taken part in Doctor Anywhere’s $5.6m series A round in 2018.