“We want to take a leap forward as we enter into the post-pandemic world, and look at the re-architecting of sectors such as health, food, enterprise and economy [fuelled by 5G],” Telus Ventures managing partner Rich Osborn told Global Corporate Venturing.
The strategic investment arm for Canada-based telecommunications firm Telus formed a Covid-19 task force to identify innovative startups that are improving social outcomes. “Telus Ventures is leading a group of immunologists, infectious disease experts, general practitioners and business leaders in the fight against Covid-19,” Osborn said.
Telus Ventures’ portfolio includes League, which is developing a digital healthcare platform for small and medium-sized businesses and enterprises. “Since their $62m raise in 2018 led by Telus Ventures, League has received additional investments and established strategic partnerships, including with leading insurance firm Canada Life, that will enable League to continue to expand and empower more employees to take control of their health,” Osborn explained.
Another highlight is cognitive behaviour therapy platform Beacon, which “has been a helpful solution for people who are at home struggling with mental health issues as a result of social isolation”.
“From a digital health perspective, given the current Covid-19 health crisis, we have accelerated the implementation process by four to five years in the last six weeks alone to meet current needs,” Osborn continued.
As an example, he mentioned Right Health (RH)/Akira. “In 2017, Telus Ventures invested in RH/Akira, a virtual care platform that connects Canadians with healthcare providers, enabling easier access to clinicians and improving health outcomes for Canadians,” he said.
“In 2019, Telus Health acquired RH/Akira, and it is now the fastest-growing virtual care platform in Canada, and plays a critical role in treating Covid-19 safely from a distance.”
