Halodoc Raises Funding of IDR 1.16 Trillion from Temasek and Astra

Health startup, Halodoc, received series C funding of US$ 80 million or around IDR 1.16 trillion. This investment was obtained from a number of big investors, including Temasek, Astra Group and PT Telkomsel.

Based on the press release of related parties, the investors involved in injecting funds in this round are the Singaporean financial management company, Temasek, the Astra Group through Astra Digital International, and Telkomsel’s subsidiary, Telkomsel Mitra Inovasi.

Some of the other investors are Bankok Bank, Novo Holdings, and Acrew Diversify Capital Fund. Meanwhile, Halodoc CEO Jonathan Sudharta said the funding came from new and former investors.

Halodoc CEO Jonathan Sudharta said the fresh funds would be used to expand penetration across major health verticals and improve user experience. “For us, innovation is not just launching sophisticated applications,” he said in a press release, Wednesday (21/4).

He stated that Halodoc’s main goal was to solve health challenges in Indonesia. “One way is through technology, in order not only to expand access to health for more people, but also to provide a seamless and hassle-free user experience,” he said.

“We will continue to improve patient experience and provide technology-based solutions to health care problems in Indonesia,” he said during a virtual press conference, Wednesday (21/4).

Increased Service Requests on the Halodoc Platform

He said the number of Halodoc users had grown 25 times in the last three years to 20 million today. Meanwhile, transactions increased 16 times.

“This increase is due to a necessity for users to access technology during the corona pandemic,” he said. The increase in transactions, especially from consulting services to doctors, increased 10 times as of March.

Another service of interest is health information or articles with a double increase in readership. In addition, health shop services increased fivefold. Then, the doctor’s appointment service tripled.

The Covid-19 test service has also been used by more than 600 thousand users per user. The company provides at least 20 points of location for the drive-thru rapid test and 34 PCR tests.

Halodoc also provides Covid-19 vaccination services in seven locations in Sumatra, Bogor, Surabaya, Yogyakarta and Medan. This corona vaccination post targets the elderly (elderly) and their companions.

Each of Halodoc facilities can accommodate up to 1,000 doses per day with operational hours from Monday to Friday at 09.00 – 17.00 WIB and Saturday at 09.00 – 13.00 WIB.

In total, the service posts from Halodoc have served the first dose of Covid-19 vaccination to nearly 50,000 people as of early April (7/4).

Investors Trust in Halodoc

Astra President Director Djony Bunarto Tjondro added that the company believes in Halodoc’s commitment to addressing challenges related to access to health services in Indonesia. Mainly, during the corona pandemic.

“We believe the investment made by Astra can support Halodoc to continue to provide innovative solutions that can benefit the lives of millions of Indonesians,” he said.

Meanwhile, TMI CEO Andi Kristianto said, Halodoc and Telkomsel have recently developed and launched various services.

“Now, we are continuing the collaboration by investing strategically that can create the most comprehensive end-to-end solutions that can transform the health sector,” he said.

Managing Director and CEO of UOB Venture Management Kian-Wee Seah said that the Covid-19 pandemic has accelerated the demand for and adoption of telehealth services. In addition, it supports strong growth in terms of the use of digital health platforms.

“Our continued investment will support Halodoc in simplifying and expanding access to affordable health services,” he said.

Based on CB Insights data, funding to healthcare startups globally reached a record US$ 2.8 billion from 162 agreements in the third quarter of 2020. In Asia alone, the increase has almost tripled.