Docosan Raises US$1 Million in Funding

Vietnam: Docosan, a Vietnam-based health-tech startup, announced today that it has raised over US$1 million in a round led by Taiwanese VC firm AppWorks.

Singaporean VC firm Huat Ventures and biotech entrepreneur David Ma also participated in the round.

While Docosan has not disclosed its plans with the fresh capital, it said it will add telehealth and pharmacy services to its platform.

Launched just last year, Docosan’s goal is to improve access to quality healthcare for people in Vietnam. The app enables patients to compare healthcare providers, book appointments, chat with primary care assistants, and manage health data for free.

Docosan uses internationally recognized protocols such as HIPAA (the Health Insurance Portability and Accountability) and DICOM (Digital Imaging and Communications in Medicine) to ensure health records are portable across many different systems.

The company claims to have helped 50,000 patients in Vietnam book appointments with physicians across 35 specialties within less than a year of operations.

“Many clinics are frustrated after spending large amounts on social media marketing because these networks’ vast, opaque user bases are difficult to harness to reach new patients,” said Beth Ann Lopez, co-founder of Docosan.

“Docosan’s proprietary booking software provides doctors an easier way to manage bookings compared to the crowded waiting rooms, which people are increasingly wary of amid the pandemic,” she added.

Since the onset of the COVID-19 pandemic, digital healthcare services have seen a boom as more people are growing increasingly cautious of visiting crowded spaces.

Due to this, many consumers in Southeast Asia are now seeing health-tech solutions as a lifestyle staple.

Observing this trend, many leading companies such as Grab, AIA, and gojek have all integrated healthcare content into their offerings.

According to a study by Solidiance, total healthcare spending in ASEAN is estimated to reach US$740 billion by 2025, up from US$420 billion in 2017.