Healthcare startup Bot MD raises US$5m in funding round led by Monk's Hill Ventures
HEALTHCARE startup Bot MD has raised US$5 million in Series A round led by Monk's Hill Ventures and will use the funds to help accelerate the company's growth within the Asia-Pacific region.
Other investors in the round include SeaX Ventures, XA Network and SGInnovate, healthcare industry veterans Lu Yoh-Chie and Jean-Luc Butel, as well as Silicon Valley notable, Steve Blank.
The funds to be used to accelerate the company's growth within the Asia-Pacific will be deployed through partnerships with public and private hospitals and clinics, on the back of "accelerated demand" from large hospital and healthcare organisations during COVID-19.
Partners today include the National University Health System, National University Cancer Institute Singapore, Tan Tock Seng Hospital, Changi General Hospital, Singapore General Hospital, Parkway Radiology and the National Kidney Transplant Institute.
The company also plans to use the funds to accelerate its platform expansion into Indonesia, the Philippines, Malaysia and India, to support doctors in large hospitals, smaller general practitioners and primary-care clinics' doctors by giving them instant access to the clinical information they need. It will also expand its design and engineering teams for new clinical applications to its platform.
Bot MD is an artificial intelligence-based clinical assistant for doctors. The AI can be trained on hospital-specific content to help doctors. For example, Bot MD has launched a pilot with Parkway Radiology to enable its affiliate network doctors to use Bot MD for clinical ordering and scheduling of radiology exams, and to immediately view patient radiology reports and scans when ready.
"Our company's mission is to empower doctors and to delight them by providing them with an AI assistant that can answer all their clinical queries... We're focused on designing a user experience in our platform that modernises clinical workflows without the need to adopt an entirely new hospital system or change the existing workflow," said Dorothea Koh, Chief Executive and Co-founder of Bot MD.
Lim Jui, Chief Executive of SGInnovate, said: "Today, seamless integration across hospital systems and instant access to medical information can make a big difference in helping doctors swiftly perform their work. We are pleased to support strong homegrown Deep Tech startups like Bot MD in building and scaling their solutions, as they meet the growing need for improved healthcare products and services."
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