Indonesia’s healthtech firms test positive for growth

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Hello there,

Studying abroad in the UK meant I was nearly 12,000 kilometers away from my family and friends, and that was liberating. But it was also rough at times, especially whenever I got sick.

In January 2020, I was ill for two whole weeks – I woke up every day feeling like I’d been hit by a truck (in retrospect, I probably contracted Covid-19). Although healthcare was free in the UK, I had to book in-person consultations and pick up prescriptions.

Though the doctor’s clinic and nearest chemist were close by, it felt like the longest trek of my life. Exerting all that effort while I was ill probably impeded my healing process.

Two years later, I caught Covid-19 again in Jakarta. But this time around, I got a teleconsultation with the doctor at home and had medicine delivered to me on the same day.

It was unbelievable to see how quickly healthcare platforms in Indonesia had adopted telehealth. And in this week’s Big Story, I map out the key players in the country’s healthtech industry.

Investor interest in the sector peaked in the last two years, with the number of funding deals doubling from 2016. The most heavily financed segment is telemedicine, which has attracted big backers such as SoftBank, Temasek, Telkomsel, Singtel, Gojek, and Grab.

Despite the influx of funds, these startups still need to come up with better value propositions as tailwinds from the pandemic are receding.

Speaking of endurance, I believe that much more has to be done if humanity is to survive global warming. Luckily, firms such as Earth VC are investing in climate tech firms that are coming up with solutions, as Nikita details in Making Waves. You know what else can help save us? Tapping into AI’s powers to make engineering more efficient, even for space missions.

— Shadine

THE BIG STORY

Mapping Indonesia’s key healthtech players

Image credit: Timmy Loen

Healthtech funding deals in Indonesia doubled in 2021 and 2022 from six years earlier due to strong user growth. But can the firms monetize this?

MAKING WAVES

AI ODYSSEY

NEWS YOU SHOULD KNOW

FYI