Singapore-based health startup mClinica offers data, analytics, and patient engagement tools for healthcare organizations. In an effort to further revamp its services and transform the scenario of the industry, it has secured $6.3 million in series A round of funding.
The round reportedly, one of the largest in Southeast Asia for health startups, was led by Silicon Valley-based Unitus Impact. Other participating investors include London-based Global Innovation Fund, MDI Ventures of Indonesia, and Endeavor Catalyst. Its existing investors also joined the round including 500 Startups, IMJ Investment Partners, and Kickstart Ventures.
Founded in 2012 by Farouk Meralli, mClinica connects patients, pharmacies, physicians, and healthcare organizations in a digital network that enables them to improve market efficiencies and health outcomes. By merging them, mClinica’s network gathers comprehensive information that enables them to employ programs in order to improve patients’ health outcomes and access affordable medicine.
They work with many of the world’s leading pharmaceutical, healthcare, and public health organizations. They operate their services in several emerging markets of their base in Singapore, and in the Philippines, Thailand, Malaysia, Indonesia, and Vietnam.
mClinica assembles the healthcare data by partnering with on-ground medical stores. Farouk believes the healthcare space in largely dominated by chains of large corporations. This results in pharma companies not getting relevant data to understand more about their business, supply chain, and the competitive landscape. On the other hand, governments and other organizations do not seem to have enough information that can shape policy or detect outbreaks.
Beau Seil, a Managing Partner at Unitus Impact stressed upon the fact that Southeast Asia needs more healthcare and pharmacy data. Seil in an official statement, says,
Due to the highly fragmented and multilayered nature of pharmaceutical supply chains, there are massive data gaps that affect the delivery of essential medicines and health services in the developing world. Markets are broken, and they cannot and will not function efficiently until there is data that key stakeholders can use to clearly understand both the supply and demand sides of the equation.
