The multimillion-dollar telehealth industry

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Hello readers,

I’ve been thinking about visiting the doctor to get a check-up. After all, I eat a ton of junk food, drink like it’s always closing time, and don’t exercise as often as I should.

But going to the doctor’s just feels like such a hassle. And with Covid-19 cases rising in Singapore (again), I’m trying to stay home and away from crowded places as much as possible.

Then I learned that I could get a check-up done in the comfort of my home – it’s just one of the many services that telehealth startups have brought us, even if you’re miles away from a doctor’s office.

And it’s an industry on the rise. In 2016, telehealth startups raised US$50 million in disclosed funding. By 2019, that number had grown by more than 5x, and continued to skyrocket in the wake of the pandemic.

Speaking of which, our latest Tech in Asia Explains episode puts the telehealth industry under the microscope, diving into the latest innovations in the space and discussing where it’s going next.

Now, excuse me while I book a doctor’s appointment.

You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.

Let’s dive into the biggest deals and M&As that recently took place.

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The biggest deals by country

🇮🇳 Paytm: The Indian fintech firm raised US$1.1 billion in an anchor round from BlackRock, Canada Pension Plan Investment Board, and Government of Singapore Investment Corporation as part of its initial public offering.

🇨🇳 Wangdiantong: The Chinese retail industry cloud service provider bagged US$312 million from CPE Industrial Fund, Government of Singapore Investment Corporation, Hillhouse Capital, Legend Capital, and Visionfund in a series D funding round..

🇵🇭 Mynt: The Philippines-based fintech firm secured US$300 million in late-stage funding from Insight Partners and Warburg Pincus.

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Lists of most active investors in the region

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