BLOG
kindrik partners advises healthtech startup on $6.3million series A investment
share:
We’re thrilled to have advised healthtech startup, mClinica, on its US6.3million series A investment. The financing round was led by Silicon Valley fund, Unitus Impact, and Global Innovation Fund based in London. Existing investors, including Kickstart Ventures, IMJ Investment Partners and 500 Startups, also participated in the investment round.
mClinica provides data and analytics services in the heath sector. Its technology brings together independent pharmacies in Southeast Asia on a single mobile platform and provide access to crucial health data (e.g. what medicines are being dispensed). Through analytics programmes, reports are provided to public and private healthcare players, e.g. pharmaceutical companies or government agencies. While this kind of data is more readily available in large Western economies (due to the domination of big customer healthcare outlets), mClinica advises that, in Southeast Asia and other emerging economies, there is a vast number of independent pharmacies and therefore no way of capturing and collating this key data. mClinica is providing a solution to this.
mClinica currently operates in the Philippines, Indonesia and Vietnam. Whilst Southeast Asia remains the focus for now, the company may look at other emerging economies across the world where this type of technology and business model would provide real benefit.
It’s great to be involved with companies like mClinica. When we talk about startup disruption, we typically think of productivity tools which increase efficiencies or lower the cost. Disruption in emerging economies, as mClinica has demonstrated, can mean something much more significant. In this case, utilising mobile technology and analysis of data can be transformative for long-term healthcare in terms of access, quality and affordability.
Congrats to Farouk and the mClinica team.
explore our other blog posts
Kindrik Partners advised VC firm Illuminate Financial on its investment in Singapore-based AI-driven data processing and automation company bluesheets. Illuminate led the US$6.5 million series A round. Other returning investors included Insignia Ventures Partners, Antler Elevate, and 1982 Ventures.
Illuminate invests in B2B fintech and enterprise software companies that build solutions for the financial services industry. Backed by global financial institutions such as Citi, JP Morgan, Barclays, Jefferies, Singapore Exchange Group, and BNY Mellon, Illuminate uses its extensive network and industry knowledge to help their portfolio companies achieve their full potential in addition to providing capital.
bluesheets offers AI-driven data processing and workflow automation software that helps businesses digitise and automate their bookkeeping processes. It plans to use the funds to further enhance its AI capabilities and accelerate growth in key APAC markets, including Singapore, Thailand, ANZ, and Hong Kong.
We’re happy to have advised Singapore-based synthetic data company Betterdata on an oversubscribed seed round of $1.65 million, led by Investible.
The company was founded in 2021 by Dr. Uzair Javaid and Kevin Yee and allows clients to share data faster and more securely in compliance with stricter data privacy regulations being introduced around the world. Betterdata uses generative AI to convert real data into synthetic data that looks, feels, and behaves like real datasets. These synthetic datasets retain the structure and correlations of the original data while eliminating the privacy and security concerns that come with holding and sharing sensitive data.
Betterdata plans to use the funding to publicly launch its product, hire more staff as the company scales, and improve its technology stack, with the aim of providing support for single-table, multi-table, and time-series datasets. The company also plans to expand across the Asia-Pacific region over the next two years.
