The HD team
HD, the Bangkok-headquartered company behind the HDmall, a healthcare and surgery marketplace in Thailand and Indonesia, has announced the completion of its US$5.6 million Series A funding round.
SBI Ven Capital led the round through its joint fund with Kyobo Securities from South Korea and NTU Singapore’s NTUitive. Existing backers, such as M Venture Partners, FEBE Ventures, Partech Partners, Ratio Ventures, Orvel Ventures, and new investor TA Ventures also joined.
HD will use the money for expansion. The company aims to support over 5,000 healthcare providers and 300 operating rooms, enabling thousands more surgeries by 2025.
Also Read: ‘Airbnb for surgeries’ HDmall gets FEBE Ventures backing to deepen market presence in SEA
A portion of this new capital will enhance HD’s care delivery systems.
The latest capital infusion follows a round of financing it raised from Vietnamese VC firm FEBE Ventures in August 2023.
HD was co-founded in 2019 by Sheji Ho, Aditya Jamaludin, Raya Chantaramungkorn (all former top executives at Thailand’s leading e-commerce enabler aCommerce), and Frankie Shum (formerly with Ardent Capital). It connects patients to hospitals, clinics, operating rooms and surgeons while offering healthcare financing solutions to increase access to affordable care and surgeries.
HDcare works with healthcare providers – many already on the HDmall platform – to increase the utilisation of hospitals’ and clinics’ operating room capacities.
Since its launch, HDcare, often described as the ‘Airbnb for Surgeries,’ claims to have allowed over 300,000 patients to access elective surgeries like thyroid, haemorrhoid, and ophthalmic procedures at 15-20 per cent lower than the market.
The medtech firm has also announced the appointment of Dr Kulthep Rattanakovit as the new Chief Medical Officer. A gastroenterologist with training from the prestigious Faculty of Medicine Ramathibodi Hospital, Mahidol University, and a fellowship in neurogastroenterology from the Medical College of Georgia, Rattanakovit brings invaluable experience from his roles as Deputy Chief Medical Officer at Vimut Hospital and seven years at the BDMS Group.
HD plans to integrate AI into healthcare, primarily through its ‘MEhdIQ’ Large Language Model. Utilising a vast, proprietary healthcare product, transaction, and chat commerce data set, MEhdIQ will initially assist HD’s internal teams and network surgeons.
Also Read: Vietnam offers a blue ocean opportunity for our healthtech biz: HD Co-Founder Sheji Ho
Sheji Ho, CEO and co-founder of HD, said: “In emerging Southeast Asian markets, the real opportunity for healthcare AI lies not in building yet another general practitioner chatbot, but in enhancing patient outcomes by streamlining operational and administrative tasks for providers and payers. Our unique MEhdIQ LLM, with its exclusive and anonymised training data, aims to significantly alleviate the administrative load, allowing healthcare and insurance professionals to focus on delivering superior patient care.”
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