Health

Singapore-based digital well being startup Bizarre Folks will get $5M in pre-Collection A funding



Singaporean digital well being startup Bizarre Folks has bagged $5 million in pre-Collection A funding from Monk’s Hill Ventures.

Based two years in the past, Bizarre Folks runs two telehealth platforms: Noah, a web based healthcare service devoted to males, and Zoey, which focuses on ladies’s sexual wellness, fertility, psychological well being and wellbeing.

WHAT IT’S FOR

In response to a media launch, Bizarre Folks will use its contemporary funds to broaden its enterprise throughout Asia, beginning in Singapore and Hong Kong. It additionally plans to rent extra expertise for its engineering, product, and design groups. 

Additionally it is eyeing extra B2B partnerships to supply Noah and Zoey telehealth providers to company workers.

WHY IT MATTERS

“Thousands and thousands of individuals throughout Asia discover it troublesome to entry correct therapy and look after well being circumstances which have super taboo connected,” Peng T. Ong, co-founder and managing accomplice at Monk’s Hill Ventures, famous.

Bizarre Folks made it a mission to make use of know-how to “simplify affected person expertise”. With round 60% of the full well being expenditure in Southeast Asia being out-of-pocket, founder Sean Low stated there’s a want for a “frictionless expertise from discovery to supply”.

MARKET SNAPSHOT

Early this month, telecommunications agency China Cellular formally launched its cell well being app in Hong Kong. Developed with well being tech firm Heals Healthcare, the Dr. HK app presents each on-line and offline providers, together with entry to digital well being information, on-line outpatient clinic appointments, video consultations, and drugs supply.

Asia’s digital well being market is projected to develop to round $100 billion by 2025 from $37 billion in 2020, pushed by the increasing consumer-centric digital well being ecosystem within the area, in keeping with a report by McKinsey & Co.



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