Ex-Grab employee’s healthtech firm bags pre-series A money

Vietnam-based Medici, a healthcare and insurance platform, has raised an undisclosed sum in pre-series A round, which was co-led by Wavemaker Partners and Jungle Ventures. Medici’s existing investor Insignia Venture Partners also participated in the round.

(From left) Medici COO Bella Nguyen, CEO Duc Anh Ngo, and Deputy CEO Vu Ba Tuyen / Photo credit: Medici

Medici aims to make healthcare and insurance more accessible and affordable for people in Vietnam. The startup said it has partnered with more than 50 hospitals and clinics to provide health-screening services. It also hosts an in-house doctor-influencer network as well as a drugs and supplements marketplace.

In July 2021, Medici expanded into the insurance business after securing a brokerage license from Vietnam’s Ministry of Finance. The company claims to be the first tech startup in the country to do so.

Since then, its insurance segment has recorded a 100% month-on-month growth. The company has also appointed Vu Ba Tuyen, former deputy CEO of life insurance firm Hanwha Life, as Medici’s deputy CEO to spearhead its insurance business.

Medici was founded by Duc Anh Ngo, a former acquisition manager at Grab, in 2019.

The company plans to use the fresh capital to scale up its insurance agent network and improve its tech. It also aims to expand its healthcare ecosystem to include more specialties by onboarding more influencer doctors. It also plans to develop a wider selection of healthcare products in its marketplace and ramp up hiring across all verticals.

See also: Meet the 15 top-funded startups and tech companies in Vietnam