It will use the funds to grow its network, expand to new markets, ramp up product development, and increase new hires

Singapore-based pharmacy network startup mClinica has raised US$6.3 million in a Series A round led by Unitus Impact. Participating investors include Global Innovation Fund, MDI Ventures, and Endeavor Catalyst. Existing investors 500 Startups, IMJ Investment Partners and Kickstart Ventures also participated in the round.

mClinica will use the newly-raised capital will grow its pharmacy network, expand to new regional markets, ramp up product development, and increase hiring efforts.

Founded in 2014, the healthtech startup has a presence in six key markets in Southeast Asia, including Singapore, Indonesia, Philippines, Malaysia, Thailand, and Vietnam.

mClinica connects multinational pharmaceutical companies, governments, NGOs, and academic institutions on one platform, allowing them to access a large pool of data that will help improve the efficiency and cost-effectiveness of their health programmes for patients.

For example, using the data, health ministries can generate and visualise real-time health data quickly for policy formulation and other important decision-making processes. The team is currently working with several governments to deploy these data-driven programmes.

“We are solving the issue of access to pharmacies, patients and data at the last mile of the pharmaceutical supply chain,” said mClinica’s Founder and CEO, Farouk Meralli, in a statement to e27.

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mClinica’s data has uncovered several alarming statistics. In Indonesia, it discovered that at least 5 per cent of Indonesians consuming a cocktail of medications that could result in severe health complications; in the Philippines, it found that nearly 60 per cent of patients with tuberculosis were not receiving the standard care required for recovery.

Global Innovation Fund’s COO Nishant Lalwani said that mClinica’s data will be critical in assisting government donors and philanthropists make informed decisions about directing aid capital in Southeast Asia.

Beau Seil, a Managing Partner at Unitus Impact also highlighted Southeast Asia’s need for more healthcare and pharmacy data.

“Due to the highly fragmented and multilayered nature of pharmaceutical supply chains, there are massive data gaps that affect the delivery of essential medicines and health services in the developing world. Markets are broken, and they cannot and will not function efficiently until there is data that key stakeholders can use to clearly understand both the supply and demand sides of the equation,” said Seil, in an official press statement.

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Image Credit: mClinica

 

 

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