On June 16th, 2022, Doctor Koi, a health technology firm in Bangladesh, raised USD 500K in seed funding from Verge Healthtech Firm, an early-stage venture capital fund for health technology.
With the help of its startup finance, Doctor Koi plans to expand its customer base in Bangladesh and create additional services with added value. Ten thousand more doctors will access its digital prescription tool in the coming years.
Additionally, the investment will assist in expanding its network of physicians to provide online consultation services. There are currently more than 2,000 doctor clinics in its network, and 10 million digital prescriptions have been written.
What the founder has to say:
CEO and co-founder Sadman Soeb Adib:
“We think Doctor Koi has a lot of promise because it offers the most cutting-edge and scalable technologies while curating its goods and services for the demands of the local market. Because we are a very product-focused business, we understood our clients from the beginning. The main force behind our innovation and ongoing improvements is our customers.
We believe the company can achieve many scales and improve the healthcare ecosystem for the 160 million population in Bangladesh and beyond the globe while maximizing the stakeholders’ return. With big market opportunities to penetrate an untapped market in such a growing economy.”
A “foundational layer for a low-cost, tech-enabled distributed primary care-focused health system” is what Doctor Koi is meant to be. According to reports, Bangladesh’s healthcare system is analog, disjointed, and understaffed, contributing to significant inefficiencies. According to Joseph Mocanu, a partner at Verge Healthtech Fund, even something as fundamental as a doctor’s clinic is not digitally enabled.
The digital health market in Bangladesh is anticipated to be worth USD 371.5 million this year because of a more favorable environment for digital health developments. By 2026, it is expected to increase in value by 14.19 percent CAGR, reaching USD 631.6 million.
One of the most recent foreign players to introduce a mobile health app in the nation is the Swedish fintech and health startup Milvik Bima.
What the company does:
The original purpose of Doctor Koi, which translates to “Doctor Where,” was to provide a platform for booking medical appointments. Sadman Soeb Adib and Areek Zillur, the company’s founders, chose to concentrate on creating a digital prescription tool because the enormous number of medical errors that result from handwritten prescriptions in Bangladesh is one of the main reasons treatments fail. They referenced a local survey which revealed that most prescriptions in several metropolitan healthcare facilities were illegibly written.
The company’s flagship product Digital Rx, a prescription writing software, is being used by over 900 active doctors who generate more than 350,000 digital prescriptions monthly.
Its platform also offers other services, such as online consultation, appointment management, content management, and marketing.
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