Vietnam-Based Health Tech Startup Jio Health Bags $20M In Series B Round
Jio Health, a provider of human-centered and technology-powered healthcare in Vietnam, announced today they just raised $20M after completing the Series B round led by Heritas Capital, a Singapore-based healthcare investor. This is the startup’s largest funding yet. Other investors include Thailand’s Fuchsia Ventures and Kasikorn Bank Group, and existing investor, Monk’s Hills Ventures.
The success of this fundraiser lets Jio Health achieve aggressive growth with plans to expand its Smart Clinics and omnichannel ecosystem across Vietnam, its primary market, and eventually pave the way for expansion into regional markets in the coming years.
Jio Health founder & CEO, Raghu Rai said they plan to boldly invest into expanding their geographic footprint across the country. “We’re excited to welcome a high-impact, high-conviction cohort of investors to join us on our mission to become the most consumer-centric healthcare company in Vietnam and across Southeast Asia,” he added. According to Raghu, their goal is to enhance their clinical and digital capabilities as well as regionalize the playbook for their value proposition which is “quality care, anytime, anywhere.”
The new investment will also extend the startup’s clinical service offering to more consumers and employers, support the launch of additional Smart Clinics in existing and new locations, expand provider and clinical support teams, and further advance technology platform innovation.
Chik Wai Chiew, the CEO and Executive Director of Heritas Capital said they are pleased to support Jio Health in their mission to provide greater access to affordable quality healthcare solutions and managed care for all. “Jio Health is building a unique healthcare model with a blend of online and in-person service offerings to care for patients throughout their healthcare journey, from wellness to treatment and post-treatment recovery,” Chik added.
Because Jio Health has a vertically integrated consumer healthcare value chain, it’s capable of providing quality, affordable care wherever consumers shop, work, live, and click. Their 300+ care providers, engineers, and operators currently operate an online healthcare app (available on iOS and Android platforms) and a physical facility in Saigon.
Beyond virtual care, Jio Health's ecosystem consists of Smart Clinics, on-demand home care, and an extensive and growing network of 300+ Jio-branded neighborhood pharmacies.
The health tech startup provides on-demand access to healthcare services such as primary care, chronic disease management, pediatrics, and ancillary care services. And they intend to grow the list of services they’re offering. At Jio Health, access to care is part of a larger omnichannel strategy that integrates prevention, multi-specialty care management, and ancillary diagnostic and pharmacy benefits to deliver better healthcare outcomes.
Justin Nguyen, Partner of Monk’s Hill Ventures said since their Series A investment in Jio Health, they have seen Raghu and his team enable caregivers with technology to revolutionize the care experience.
“With the typical patient paying out of pocket for three minutes of care after a three-hour wait, the consumer is getting left behind in the current healthcare system,” Justine said. “Jio Health today is now offering the most customer-centric healthcare ecosystem in Vietnam. Its full-stack ecosystem is addressing all critical pain points head-on and is steadily becoming the trusted brand for quality care at affordable costs for the masses.”
Facing the unpredictable impact of COVID-19 across communities, Raghu and his team have never been this committed to creating a change in providing easy access and delivering care for millions of people across Southeast Asia. He also ensured that this new funding will substantially accelerate their growth and scale the reach, impact, and affordability of Jio Health’s consumer healthcare ecosystem.
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