Singapore-based telehealth company ORA has raised $10 million in a Series A funding round, led by TNB Aura and Antler. The funding marks the largest telehealth funding in Southeast Asia to date. ORA operates a vertically-integrated telehealth platform that includes online dermatology brand Modules, male health-focused andSons, and female health-centered OVA. The company plans to use the funds to expand into new territories, including the Middle East, and launch new offerings. ORA has already conducted over 250,000 consultations since its launch in 2021 and aims to launch medically-backed products in tier-one stores later this year.
Singapore-headquartered telehealth company ORA has raised $10 million in a Series A funding round – touted to be the largest telehealth funding in Southeast Asia to date – led by TNB Aura and Antler. The round was also participated by Gobi Partners, Kairous Capital, and GMA Ventures.
WHAT IT DOES
ORA runs a vertically-integrated telehealth platform that delivers over 250,000 consultations since launching in 2021. It houses three brands: online dermatology brand Modules, male health-focused andSons, and OVA, which is centred on female health.
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It is set to launch its medically-backed products across 1,300 tier-one stores later this year.
WHAT IT’S FOR
The company currently operates in Singapore, Malaysia, and the Philippines, with plans to enter new territories using its fresh funds. In a statement, ORA said it sees expansion opportunities in the Middle East. Moreover, it is keen to launch new offerings soon.
To date, the company received $17 million in total funding.
MARKET SNAPSHOT
Another vertically-integrated telehealth platform in Singapore, Ordinary Folk, also attracted investments last year; it raised $5 million in pre-Series A funding for its expansion across Singapore and Hong Kong.
Eucalyptus, an Australian company that houses five telehealth brands, also snapped up $42 million in Series C funding last year for its expansion in the United Kingdom.
ON THE RECORD
“ORA has had over six million patient touch points provide us with valuable health data through extensive health evaluations and consultation online. This has brought unique insights into these patient’s healthcare expectations that have and will inform future innovations with our key partners,” said CEO and founder Elias Pour, who was also Zalora’s ex-CMO.
Source: MobihealthNews
