Local health start-up snares funding from global VCs

Share on facebook
Share on twitter
Share on linkedin
Share on email

Photo shows during the contract signing (from left):  Koichi Saito, director of IMJ Investment Partners (Japan); Farouk Meralli, CEO and founde of mClinica; Dave McClure, founding partner of 500 Startups; and Minette Navarrete, president of Kickstart Ventures. Behind them  are (L-R) Christian Besler, vice-president of Kickstart; Kaspar Zhou, principal of 500 Startups; and Khailee Ng, managing partner of 500 Startups Photo shows during the contract signing (from left): Koichi Saito, director of IMJ Investment Partners (Japan); Farouk Meralli, CEO and founde of mClinica; Dave McClure, founding partner of 500 Startups; and Minette Navarrete, president of Kickstart Ventures. Behind them are (L-R) Christian Besler, vice-president of Kickstart; Kaspar Zhou, principal of 500 Startups; and Khailee Ng, managing partner of 500 Startups[/caption] According to founder Farouk Meralli, the capital will be used to fuel mClinica?s South East Asian expansion, starting with Indonesia, Vietnam and Thailand. The company currently has a growing network of over 1400 pharmacies nationwide on its platform and access to over 20 million customers. One in every two independent pharmacies in the Philippines is now part of mClinica, making it the largest pharmacy network in the country. mClinica creates a digital infrastructure connecting pharmaceutical companies directly to pharmacies to make healthcare better for the patient. The Philippines was selected as its pilot market in view of the high prices of medicines, a highly-fragmented status of independent pharmacies, and data scarcity. ?While emerging markets were growing rapidly, we did not have access to the same data we had in more mature markets. The issue could not be solved by simply plugging into an existing technology infrastructure ? that did not exist. mClinica was born to build that infrastructure ? a smart digital network, powered by mobile, that could generate data that was relevant to our needs. We are now building the grid and data is our electricity,? Meralli said. Through mClinica, drug companies can reach pharmacies on a large scale through mobile phones and furthermore create programs that help patients better afford their medicine, be better educated about the medicines they take, help improve adherence and overall create better health outcomes. These pharmaceutical companies also receive new and valuable sources of data that have never been available before, helping to reach new levels in the Big Data revolution. Kickstart led this funding round, providing growth capital for mClinica as well as opening doors to corporations and overseas markets to support a more aggressive expansion plan. As a member of Innov8 Sparks, the network of technology startup support and funding initiatives founded by members of the SingTel Group such as SingTel Innov8 (Singapore), AIS The Startup (Thailand), Kickstart Ventures (Philippines), Optus-Innov8 Seed (Australia), and Telkomsel Teman Dev (Indonesia), Kickstart would be able to give mClinica access to a combined mobile customer base of over 550 million in 25 markets across Asia and Africa. This is the 19th investment for Kickstart Ventures in just over two years, underscoring the Globe subsidiary?s role as the Philippines? most active institutional fund for seed and early-stage digital startups. ]]>

Facebook Comments

Latest Posts

Archives