Singaporean digital health startup Ordinary Folk has bagged $5 million in pre-Series A funding from Monk’s Hill Ventures.
Founded two years in the past, Ordinary Folk runs two telehealth platforms: Noah, a web based healthcare service devoted to males, and Zoey, which focuses on girls’s sexual wellness, fertility, psychological health and wellbeing.
WHAT IT’S FOR
According to a media launch, Ordinary Folk will use its recent funds to broaden its enterprise throughout Asia, beginning in Singapore and Hong Kong. It additionally plans to rent extra expertise for its engineering, product, and design groups.
It can be eyeing extra B2B partnerships to supply Noah and Zoey telehealth companies to company workers.
WHY IT MATTERS
“Millions of people across Asia find it difficult to access proper treatment and care for health conditions that have tremendous taboo attached,” Peng T. Ong, co-founder and managing associate at Monk’s Hill Ventures, famous.
Ordinary Folk made it a mission to make use of expertise to “simplify patient experience”. With round 60% of the full health expenditure in Southeast Asia being out-of-pocket, founder Sean Low mentioned there’s a want for a “frictionless experience from discovery to delivery”.
MARKET SNAPSHOT
Early this month, telecommunications agency China Mobile formally launched its cell health app in Hong Kong. Developed with health tech firm Heals Healthcare, the Dr. HK app affords each on-line and offline companies, together with entry to digital health data, on-line outpatient clinic appointments, video consultations, and drugs supply.
Asia’s digital health market is projected to develop to round $100 billion by 2025 from $37 billion in 2020, pushed by the increasing consumer-centric digital health ecosystem in the area, in keeping with a report by McKinsey & Co.
Singapore-based digital health startup Ordinary Folk gets $5M in pre-Series A funding & More Latest News Update
Singapore-based digital health startup Ordinary Folk gets $5M in pre-Series A funding & More Live News
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Singapore-based digital health startup Ordinary Folk gets $5M in pre-Series A funding & More News Today
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