Healthtech startup Plano raises undisclosed sum from billionaire Peter Lim

Local healthtech startup Plano has raised an undisclosed sum in a new funding round from several investors, including a seven figure sum from philanthropist and investor, Peter Lim, through his investment holding company Meriton Capital Limited.

Plano is a science-based parental application that aids parents in tracking a child's usage of mobile devices to ensure healthy and smart device use.

The application has more than 100,000 registered families both within and beyond Singapore. It currently operates in India, Malaysia and Australia. The firm aims to expand operations into ten more countries, including China and the United States, within the next year.

Plano was launched in late 2017 from a project led by Associate Professor Mohamed (Mo) Dirani at the Singapore Eye Research Institute (SERI) - Singapore National Eye Centre (SNEC) Ophthalmic Technologies Incubator. This programme was inducted to encourage the commercialisation of SERI research outcomes, coupled with research and desgin collaboration between industrial partners.

According to Dr Mo, Plano's business models extend beyond the application, and the app has been monetised, but the app will always be free to download and use.

Mr Dirani said that "We are now well-placed to expand our blueprint globally and strengthen our collaborative efforts with government and industry partners to tackle the global epidemic of myopia, that is already affecting up to 90% of our children and teenagers in the region."

Dr Mo added that within the next year, Plano aims to strengthen their user base and engagement locally and internationally and build upon their technological capabilities including AI in predictive eye health analytics, optometry referral system and Plano's consultancy services.

Board Director and Duke-NUS ophthalmology professor Jonathan Crowstan added that, "This new investment will not only assist in strengthening plano's market position globally, but will also fast track the execution of its research plan." He mentioned that the research plan includes big data analytics into myopia and smart device behaviour.

Data scientists at Plano are currently working on their big data analytics and Artificial Intelligence (AI) capabilities to create national eye health policies and eye service delivery. They are also looking at the most suitable Internet of Things (IoT) model for the application.

The application is free to download and use, with a small subscription fee if families wish to subscribe to its premium functions. Plano has several business models including a freemium application model, the optometry referral system, plano's e-commerce platform, and plano's workplace services.