TNB Aura and Antler jointly led a $10 million Series A funding round for the Singaporean telehealth platform ORA.
The round included contributions from Gobi Partners, Kairous Capital, and GMA Ventures as well, bringing the total funding raised to date to over $17 million, according to a statement released by ORA on Wednesday.
With the help of this new round of funding, ORA plans to grow both geographically and in terms of the products it offers.
Later this year, 1300 tier-one stores will be home to ORA’s brands, bringing its easily accessible line of products with support from the medical community to the shelves.
The company is also examining various geographical areas where there may be opportunities to expand into nations like the Gulf Cooperation Council (GCC).
“ORA is on a mission to deliver high touch, high-quality care to millions of patients, and with our continued growth story throughout Southeast Asia (SEA), we are thrilled with the announcement,” said Elias Pour, ORA’s Founder and Chief Executive Officer.
He claims that more than 6 million patient interactions with ORA have given the company access to valuable health data through in-depth online assessments and consultations.
“This has brought unique insights into these patient’s healthcare expectations that have and will inform future innovations with our key partners,” he said.
Additionally, he claimed that the company has DTC’s high growth potential due to the region’s extremely high out-of-pocket healthcare spending percentage.
According to him, this is supported by an underlying recurring revenue model known as software as a service (SAAS), with subscriptions accounting for more than 70% of its income.
“We achieved post-marketing breakeven at the end of last year on a group level after just 20 months of going live and have a very clear and believable path to profitability that is imminently ahead of us,” he added.
Since its launch in 2021, ORA, a vertically integrated telehealth platform in South East Asia, has provided over 250,000 consultations with consistent monthly growth.
The company has introduced three brands to better meet the needs of today’s patients with chronic illnesses by enhancing accessibility, convenience, and individualized care.
