Healthtech startup Zi.Care Announces Early Stage Funding

Healthtech startup provider of hospital digitization Zi.Care announced the acquisition of initial funding of $500 thousand (more than 7.2 billion Rupiah) from a number of investors. 

They are Southeast Asia Venture Capital, Iterative VC, TMI through the Telkomsel Corporate Accelerator Program (TINC), and Choco-Up. 

This fresh fund will be used by the company for business expansion, increasing the number of consumers for hospital and clinic health facilities, increasing the deepening of Electronic Medical Records (EMR). 

Then, upgrade technology to improve business, the efficiency of health facilities, and increase cooperation with corporate partners, such as Bank BNI, Bank Syariah Indonesia, Bank Mandiri, Bank OCBC, and Telkomsel. 

In an official statement delivered by the company today (25/8), the company also appointed a number of professionals to join the advisory board. 

Among them, JS Chong (Chairman & CEO of Stratez Ventures), Wiji Rahayu (former banker and founder of PE Sentra Investa Prima), and Budi Wiweko (Vice Chair of the Indonesia Medical Education and Research Institute/IMERI). 

Co-Founder & CEO of Zi.Care Jessy Abdurrahman explained, since the company was founded four years ago, they have ambitions to help with basic problems in Indonesia’s health facility system through digitalization. 

Considering that currently medical resources in Indonesia are under considerable pressure, which indirectly causes problems in the entire health care ecosystem. 

Take for example, currently the time required by patients to get services at the hospital, the average time spent for at least 2 hours. In terms of efficiency and convenience, these issues are important for the health system to fix in Indonesia. 

“In addition, several related issues, long waiting times, complicated administrative processes to the low level of accuracy in medical records, reflect that there are problems with health access in the country,” he explained. 

Offering Healthcare Solutions in Indonesia 

Therefore, Zi.Care offers solutions through cloud computing-based Electronic Medical Record (EMR) and Electronic Health Record (EHR) to digitize all health information systems, including hospital administration, clinical support, and claims management. 

“Also currently Zi.Care is gradually developing applications for patient personal health records (Patient Personal Health Records) and health passports (Health Passport).” 

He continued, the two products being developed could later facilitate the patient-focused health development process. Also, improve the administrative system in the hospital, improve the use and experience of digital insurance claims. 

Zi.Care’s Chief Strategy Officer Jodi P. Susanto added, the Covid-19 pandemic has taught us that there is an increased need for digitizing health facilities in the process of health information systems. 

It actively participates in attracting private practitioners, telemedicine, hospitals, and clinics to benefit from better and advanced technology through Zi.Care, to take medical data to the next level, and facilitate access through the exchange of health information with various stakeholders. 

Zi Care applies two business models, namely B2B and B2B2C to support all segments regardless of level. 

For example, greater flexibility of offering in pricing options, which is in line with Zi.Care’s ultimate goal, which is to make services accessible to the general public. 

Health Startups Keep Stealing the Attention of Foreign Investors 

Startups or startups from the health sector still attract foreign investors. Treasurer of the Indonesian Venture Capital and Startup Association (Amsevindo) Edward Ismawan Wihardja said foreign investors still have a high interest in health or healthtech startups. 

“Still, but it depends on the synchronization of medical sector regulations with technological developments,” he said to Bisnis, Sunday (5/9/2021). 

According to him, the development of telemedicine, electronic medical records, and data sharing and security is very important to investors. 

Based on data from Statista in April 2021, the total digital healthcare industry funding worldwide in 2020 is US$ 21.6 billion. 

Regarding the recent leak of data from a government application, Edward said that this condition would not affect the interest of local and foreign investors.