Digital health app Speedoc raises S$6.7m in Series A round led by Vertex Ventures

DIGITAL health app Speedoc has raised S$6.7 million in a Series A funding round led by early-stage venture capital (VC) firm Vertex Ventures Southeast Asia and India.

Other investors in the round are cross-border venture funding initiative Decacorn Capital and VC firm Global Grand Leisure.

The funds raised will help the startup drive technology advancement initiatives in Singapore, including working with industry partners for the clinical validation of proprietary clinical pathways, as well as setting up virtual hospital schemes that provide advanced medical care through digital means.

Speedoc will also leverage artificial intelligence and machine learning to create personalised treatment plans, it said in a press statement on Wednesday.

The funds will allow Speedoc to drive faster adoption of its digital health services locally and enhance its proprietary Chronic Disease Home Management service.

Introduced in June this year, the service allows patients to manage chronic diseases such as diabetes, high blood pressure and high cholesterol while at home.

Singapore-based Speedoc, which is also operational in Malaysia, plans to expand its presence in other South-east Asia countries, particularly high-density capital cities.

Speedoc founder and chief executive Shravan Verma said the company is looking to enable any home to mirror the facilities of a hospital room, with tools like continuous remote monitoring, telemedicine and blended clinical pathways.

Vertex Ventures Southeast Asia and India partner Carmen Yuen said: "With the enduring effect of the pandemic, we see immense potential for such innovative digital healthcare services to address the medical needs of many populations."