Other investors in the round include Monk’s Hill Ventures, Fuchsia Venture Capital (CVC of Muang Thai Group Holdings), Kasikorn Bank Group, and existing US investors.
With this round of investment, Jio Health aims to expand its presence across Vietnam, supporting the launch of additional Smart Clinics, and growing provider and clinical support teams, paving the way for regional expansion.
“Our team of 300+ care providers, engineers, and operators have each encountered the unpredictable impact of COVID at front-line hospitals, across their communities, and within their families. Their personal experiences have further validated the importance of our vision and deepened our commitment to transforming the access and delivery of care for millions of people across Southeast Asia. Our Series B funding will substantially accelerate our growth and scale the reach, impact, and affordability of our consumer healthcare ecosystem,” said Raghu Rai, Founder and CEO of Jio Health.
What makes Jio Health stand out is in the fact that, as an end-to-end healthcare service platform, it leverages both physical and digital presence driven by a customer-centric approach. Its tech-driven platform solves the quality of care by offering on-demand clinical, lab and pharmacy services through home visits and physical clinics.
MHV led its Series A round in 2019. The company’s revenue has grown 10x since the initial investment and, today, there are over 300+ care providers, engineers and operators across Vietnam and over 300 Jio- branded neighborhood pharmacies.
“With the typical patient paying out of pocket for three minutes of care after a three hour wait, the consumer is getting left behind in the current healthcare system. Since our Series A investment in Jio Health, we have seen Raghu and his team enable caregivers with technology to revolutionize the care experience. Jio today is now offering the most customer-centric healthcare ecosystem in Vietnam. Its full-stack ecosystem is addressing all critical pain points head on and is steadily becoming the trusted brand for quality care at affordable costs for the masses,” said Justin Nguyen, Partner of Monk’s Hill Ventures.
The Series B investment in Jio Health will extend its clinical service offering to more consumers and employers, support the launch of additional Smart Clinics in existing and new geographies, expand provider and clinical support teams, and further advance technology platform innovation.
“We plan to boldly invest into expanding our geographic footprint across Vietnam, enhancing our clinical and digital capabilities, and regionalizing the playbook for our “quality care, anytime, anywhere” value proposition,” said Rai.