Indonesian health tech startup Halodoc scores $80M in Series C funding

Funds from this investing round will be used for the expansion of its solutions and services.
By Thiru Gunasegaran
10:36 pm
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Credit: Halodoc

Halodoc, a health tech startup in Indonesia, recently raised US$80 million in a Series C funding led by a unit of Indonesian conglomerate PT Astra International.

The investing round was also supported by Singapore's Temasek, Telkomsel's venture arm TMI, Denmark-based Novo Holdings and Bangkok Bank.

WHY IT MATTERS

Proceeds from the funding round will be used for Halodoc's expansion of services and technology-based solutions in Indonesia, where healthcare access remains limited.

Halodoc is a digital platform that allows remote online consultations with more than 20,000 doctors. Customers can order lab tests, as well as order medications from over 4,000 pharmacies.

Last year, it launched an appointment service connecting 2,000 providers to patients across 180 Indonesian cities. The service was later expanded to include bookings for COVID-19 tests and vaccinations. Recently, Indonesia's Ministry of Health has tapped the startup's capabilities to facilitate coronavirus vaccinations.

MARKET SNAPSHOT

The latest investment brings a total of US$180 million to the startup since it launched in 2016. Its previous round of funding was backed by heavyweight investors Bill & Melinda Gates Foundation, Allianz X and Prudential.

Another major player, Alodokter, also raised cash in November from investors led by MDI Ventures, the venture arm of Telkom Indonesia. The healthcare superapp has over 27 million monthly active users.

ON THE RECORD

"Halodoc has grown to be Indonesia’s leading health tech provider. Today, we provide over 20 million users with convenient and reliable healthcare services monthly," Halodoc CEO Jonathan Sudharta said.

"We are also proud to be at the forefront of Indonesia's fight against COVID-19. The Halodoc technology that powers our Appointment system pre-pandemic is now being used to provide a safe and efficient patient journey for COVID-19 testing and vaccinations," he added. 

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