Singapore-based digital healthcare startup Ordinary Folk receives $ 5 million in funding for previous A-Series

Singapore-based digital healthcare startup Ordinary Folk raised $ 5 million from Monk’s Hill Ventures ahead of the A-Series.

Founded two years ago, Ordinary Folk manages two platforms for remote health. Nov:An online men’s health service և Zoey that focuses on women’s sexual health, fertility, mental health: well-being.

WHAT IS IT FOR?

According to media reports, Ordinary Folk will use its new tools to expand its business in Asia, from Singapore to Hong Kong. It also plans to hire more talent for its engineering, product and design teams.

He also expects more B2B partnerships to offer corporate employees Noah և Zoey telemedicine services.

WHY IS IT IMPORTANT?

“Millions of people across Asia are finding it difficult to get proper treatment and care for health conditions that are so taboo,” he said. Ong, co-founder and CEO of Monk’s Hill Ventures.

Ordinary Folk set the task of using technology to “simplify the patient experience”. With about 60 percent of all health care spending in South East Asia going out of pocket, founder Sean Lowe said there was a need for “safe practices from delivery to delivery.”

MARKET IMAGE

Earlier this month, China Mobile officially launched its mobile health app in Hong Kong. Developed in collaboration with Healthcare Technology company Heals Healthcare. The HK app offers both online and offline services, including access to electronic health records, online outpatient appointments, video consultations, and drug delivery.

The Asian digital healthcare market is projected to grow to $ 100 billion by $ 20 billion by $ 20 billion by 2020, driven by the expansion of a region-centric digital healthcare ecosystem, according to a McKinsey & Co. report.

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