Australia largest venture capital fund, Square Peg Capital, has led a $44 million investment in Singaporean telehealth start-up Doctor Anywhere, believing the coronavirus pandemic will accelerate the healthcare sector’s technological shift.
The fund on Tuesday announced it had joined with the Singapore government’s investment arm EDBI and south-east Asian hospital owner IHH Healthcare in the $US27 million ($44 million) series B financing round.
Doctor Anywhere provides flat-fee video consultations between patients and doctors in Singapore via a smartphone app and delivers medication to customers’ doors. The company, founded in 2015, recently launched in Thailand and Vietnam.
The raising is the latest investment in the health care technology sector by Square Peg, which is run by Seek co-founder Paul Bassat and manages $800 million in funds from high net worth individuals and superannuation funds including Hostplus.