Toronto-based telemedicine startup Maple has raised 75M CAD from Shoppers Drug Mart, a subsidiary of Loblaw Companies Limited.

Maple and Shoppers Drug Mart will be working together in the approaching months to start new programs to enhance in-person and virtual healthcare. Proceeds from the funding round will be used to expand the startup’s network, team, and a range of technologies for hospitals, governments, managers, and insurers.

Maple was founded in 2015 by Stuart Starr, Roxana Zaman, and Brett Belchetz and enables Canadians to access a doctor online within minutes. Its platform is available 24/7 where patients also get an option to either communicate to their doctors via text or video chat for diagnosis, treatment, and digital prescriptions. Its service is designed to address the issue of waiting for hours when one needs to consult a doctor. Maple claims to provide its services to almost 1 million Canadians.

It is being led by the belief that gradually over time, the majority of the wellness and medical care communications will occur digitally. And a very legit example of this is the current COVID-19 situation wherein visiting a hospital for a basic consultation is equivalent to exposing oneself to a greater level of risk and serious ailments.

The startups’ team envisions Maple to become the primary healthcare provider for patients. Maple also plans to become an open-source system for anyone to connect into for healthcare and wellness meetings, reinforced by legendary user experience and a cohesive digital health record management.

Shoppers Drug Mart had started working with Maple in March 2020 and now, Loblaw Companies has also acquired a minority stake in the startup.

Shoppers Drug Mart
Shoppers Drug Mart

The startup had previously secured 14.5M CAD in funding from Acton Capital and SE Health in September 2019. It had also raised 4M CAD in a Series A funding round held in March 2018 from MaRS Investment Accelerator Fund and Jeff Fettes (co-founder of 24-7 Intouch) and a number of undisclosed investors experienced in the medical field.

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Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.



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