A total of USD 44 million was raised in Docquity’s Series C financing round, headed by current investor Japan’s Itochu Corporation, a USD 32 million investment on 5th September 2022. Docquity is a Singapore-based provider of health technology.
Along with iGlobe Partners, Alkemi, Global Brain, KDV, and Infocom, other investors in this round. Declared Docquity in a statement.
Docquity has raised USD 57.5 million to date. The fundraising round follows a nearly two-fold increase in income realized in 2021.
This additional capital will support Docquity’s scale in operations within its current markets and fuel the business’s ongoing expansion momentum in Asia and internationally.
According to the statement, the current investment will be used to expand Docquity’s market share in North Asia, including Japan and the Taiwan region, as well as Southeast Asia, including Indonesia and the Philippines. This will help Docquity capitalize on the region’s strong economic growth.
The United Arab Emirates, Saudi Arabia, and Egypt are the first three countries in the Middle East where Docquity plans to establish a presence.
Beyond entering new markets, Docquity will improve product capabilities and launch new initiatives, including Docquity Clinic, Docquity Academy, and Docquity Insights. Docquity Clinic is a doctor-owned virtual clinic that primarily serves as a venue for doctors to have follow-up consultations with their patients (develop a deeper understanding of the needs and wants of doctors through data).
“Investors can see that we succeed in achieving our goals. Indranil Roychowdhury, chief executive officer and co-founder of Docquity, said, “We are now reaping the benefits of the foundations that we have built over the years, enabling Southeast Asia’s largest healthcare professional community to build healthier lives at scale and mitigating geography and knowledge boundaries for doctors.
He added that this round of funding confirms the possibilities and opportunities in the scalable business strategy of Docquity.
According to Docquity, Southeast Asia’s largest and most reliable healthcare professional network. Its goal is to link healthcare experts to create more wholesome lifestyles globally.
The business partners with businesses to reach out to healthcare professionals, educate them, and acquire insight about them. It also supports healthcare professionals in being more collaborative, effective, and influential.
The company operates in India, Indonesia, the Philippines, Malaysia, Singapore, Thailand, Vietnam, and the Taiwan region and has more than 300,000 doctors registered on its platform.
Hiroshi Kajiwara, Executive Officer, Chief Operating Officer, ICT Division, ICT and Financial Business Company of Itochu Corporation, expressed his excitement to continue supporting Docquity’s growth throughout Asia.
“Investing in Docquity has been a real pleasure for us. We have watched the firm grow since the beginning, from hiring some of the greatest employees to expanding into a thriving community of clients and doctors in Southeast Asia.
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