Monk’s Hill Ventures leads $5m series A round in Singaporean healthtech firm

Singapore-based healthtech firm Bot MD announced it has closed a US$5 million series A round led by Monk’s Hill Ventures, a VC firm with a focus on early-stage startups in Southeast Asia.

The Bot MD team/ Photo credit: Bot MD

Existing and new investors include SeaX Ventures, tech executives investment network XA Network, the Singapore government-owned SGInnovate, Biosensors International Group founder Yoh-Chie Lu, and founder of the lean startup movement Steve Blank.

Bot MD is an artificial intelligence-powered clinical assistant that can be trained on hospital-specific content to provide doctors with answers to their clinical questions. The platform allows hospitals and healthcare organizations to integrate their electronic medical records and hospital information systems for instant searching and access.

The company plans to use the funding to expand into Indonesia, the Philippines, Malaysia, and India. It will also use the funds to partner with public and private hospitals and clinics within the Asia Pacific region, and for user acquisition as well.

“We’re focused on designing a user experience on our platform that will modernize clinical workflows without the need to adopt an entirely new hospital system or change existing workflow,” said Dorothea Koh, CEO and co-founder of Bot MD.

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The healthtech firm will expand its design and engineering teams to release new clinical applications on its platform on the back of increased demand from doctors for features such as electronic medical records, billing and scheduling integrations, chronic disease monitoring, and clinical alerts.

The company claims its user base in Singapore has grown from 20 doctors in January 2020 to currently over 13,000 doctors and over 5,200 clinical users across the city-state’s hospitals.

It has also teamed up with the National University Health System, National University Cancer Institute of Singapore, Tan Tock Seng Hospital, Changi General Hospital, Singapore General Hospital, Parkway Radiology, and the National Kidney Transplant Institute.