Healthtech firm HD to enter Vietnam with new raise

Photo credit: HD

HD, a Thailand-based healthtech company, has received a significant investment from FEBE Ventures, a Vietnam-based venture capital firm.

The funding will help HD grow its presence and reach in the region, particularly in Vietnam, where it sees a large market opportunity for its healthcare and surgery solutions, according to a statement.

The company in January raised US$6 million in a round from investors like AC Ventures and M Venture Partners. It is now eyeing profitability by the end of 2023.

HD offers both outpatient and inpatient healthcare services through HDmall, which is available in Thailand and Indonesia. The platform connects patients with over 1,500 healthcare providers.

The company in November 2022 also launched HDcare, a service that allows healthcare providers to increase the use of their operating room capacities while providing patients quicker access to surgeries.

HD claims that patient demand for the service has increased 30x since its was rolled out. HD was founded in 2019 and says it has since helped over 250,000 patients with their healthcare needs. The startup said that its revenue has doubled in the first half of 2023 compared to the second half of 2022.

As the effects of the Covid-19 pandemic subside, healthtech firms in the region have witnessed continued support. Halodoc, an Indonesian startup, secured US$100 million in a series D funding round last month, pushing its total raised to US$258 million.

See also: Mapping Indonesia’s key healthtech players