kindrik partners advises healthtech startup on $6.3million series A investment
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.