AAA Homage honoured by $30m series C

Homage honoured by $30m series C

Homage, a Singapore-based senior care provider backed by information and communications technology provider Infocom, has raised $30m in a series C round led by Sheares Healthcare Group, a vehicle owned by Singaporean state-owned investment firm Temasek.

DG Daiwa Ventures, a joint venture between internet company Digital Garage and brokerage Daiwa Securities, and EV Growth, a fund backed by internet firm Yahoo Japan, conglomerate Sinar Mas and venture capital firm East Ventures, took part in the round.

Sagana Capital, HealthXCapital, SeedPlus, Trihill Capital and Alternate Ventures filled out the list of investors.

Founded in 2016, Homage provides on-demand, home and community-based care services for the elderly and adults in need of specialist care. The company leverages a network of over 6,000 certified care professionals including nurses, therapists and physicians.

The money will be used to develop Homage’s technology and speed up its regional expansion. Khoo Ee Ping, chief corporate development officer of Sheares Healthcare, will join Homage’s board of directors.

Homage has raised more than $45m of funding to date. Temasek’s Caelum Healthcare Investments vehicle led a $26.6m round for the business in August 2021 that was also backed by EV Growth, DG Daiwa Ventures’ DG Lab Fund II, Seeds Capital and HealthXCapital

Homage picked up an undisclosed amount of funding from information and communication technology producer Infocom in September 2020. EV Growth had led a $10m series B round for the company in January of that year, bringing the total by that point to $15.4m.