Brunei Royal Family makes first Tech Startup Investment in BookDoc
It’s a record-breaking feat for BookDoc, a Malaysian Healthcare Technology start-up, by achieving the highest pre-seed and seed funding valuations ever in the technology start-up history of Asia. BookDoc concluded its seed round led by Prince Abdul Qawi, a member of the Brunei Royal family.
BookDoc, founded in July 2015 and officially launched in October the same year, has been growing rapidly and is now the market leader in Malaysia. Over a short span of 3 months, it has established strategic tie-ups with prominent specialised hospitals in Malaysia, namely Institut Jantung Negara (National Heart Institute), the largest private hospital in Malaysia in terms of revenue and bed size; Sime Darby Ramsay Healthcare, a joint venture between Sime Darby, the largest conglomerate in Malaysiaand Ramsay Health Care, the largest hospital group in Australia; Tun Hussein Onn National Eye Hospital (National Eye Hospital), and has successfully signed up corporate clients which have a combined market capitalisation of USD$15 billion . Whilst the momentum in Malaysia continues to accelerate, BookDoc has started to venture into Singapore and Hong Kong .
Dato’ Chevy Beh, the Founder, remarked that the BookDoc team has been inspired by the confidence that the investment community has placed in them. “The latest funding round is really a shot in the arm. The record valuation of the seed round is a resounding endorsement of the execution track record of the team and will spur us on to strive forward with more innovative partnerships while perfecting our solutions. Moreover, we have greater financial flexibility now to seek out long-term strategic investors which could complement our future business growth.”
In a bid to realise its vision to improve access to healthcare, BookDoc has recently tied up with ride-hailing startup GrabTaxi in Malaysia to extend user convenience from virtual booking to physical transportation. In addition, to further BookDoc’s commitment to the provision of services in an ethical manner, it has established an Advisory Group, which comprises respected healthcare leaders initially fromMalaysia , to advise BookDoc on strategic areas related to content, medical ethics, regulatory matters and issues of interest to the people it serves, namely the public and medical communities.
The latest round of funding will go towards expanding its workforce, funding the second phase of its technological development and strengthening the infrastructure to support regional growth. In addition toSingapore and Hong Kong , BookDoc is planning to roll out its services in Indonesia , Thailand and the Philippines over the next few months.