Docquity, a Singapore-based health tech startup, has raised US$44 million in a series C fundraise led by Japan’s Itochu Corporation, which poured US$32 million into the round.
IGlobe Partners, Alkemi, Global Brain, KDV, and Infocom also participated in this round, pushing Docquity’s total funding to date to around US$57.5 million.
Founded in 2015, Docquity’s platform connects professional doctors with each other. It currently has more than 300,000 physicians on its platform, with operations in Indonesia, Malaysia, Philippines, Thailand, Vietnam, Singapore, and Taiwan.
The company said that it also helped 250 medical associations in Southeast Asia develop learning modules and meet compulsory continuing medical education requirements. In 2021, Docquity said it doubled its revenue from the previous year.
The health tech startup was founded by Indranil Roychowdhury, who has held positions at Cisco and Oracle, along with Amit Vithal and Abhisek Wadhwa. In 2019, it raised US$11 million in a series B funding round led by Itochu Corporation.
The firm plans to use the fresh funding to expand into Japan and the Middle East, starting with the UAE, Saudi Arabia, and Egypt. It also wants to launch new initiatives, such as cohort-based learning for doctors and a virtual clinic feature.