Monk’s Hill Ventures makes $5 million investment in startup Jio Health

April 05, 2019 | 07:32

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Healthcare startup Jio Health has succeeded in calling $5 million from its Series A funding from Southeast Asia’s Monk’s Hill Ventures, opening up the opportunity for the company to expand its operations in Vietnam.

monks hill ventures makes 5 million investment in startup jio health

Through the Jio Health app, patients can access healthcare advice and arrange an appointment with qualified doctors

According to the plan, Jio Health will use the capital to extend the list of its services and enlist more staff in order to achieve it's initially planned revenue growth.

Introduced in June 2017 in Vietnam, Jio Health offers 24/7 free healthcare advice and information anywhere in the world from web-enabled phones or tablets.

Jio Health helps users arrange a consultation with a qualified doctor. Instead of having to get themselves to a clinic or hospital, they need only open the Jio Health app, select an available doctor, and choose a suitable time and location.

Before Jio Health, in July 2016, Vicare, a website providing information about clinics and doctors in Vietnam and online health consultancy, secured its second funding round from Japan's CyberAgent Ventures and Singapore's Pix Vine Capital. Earlier in March, Vicare received the first funding round from private investors in Hanoi and Ho Chi Minh City.

The online healthcare service in Vietnam has great potential to develop. According to Jio Health research, Vietnam’s annual out-of-pocket healthcare expenditure is about $5 billion and accounts for nearly 40 per cent of the total. The country’s population also has a very high rate of smartphone usage at over 50 per cent, an overcrowded and unreliable healthcare system, and the fastest-growing middle class in Southeast Asia, all of which are in the company’s favour.

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