Prixa, an Indonesian healthcare gateway for patients to providers and payers, has announced that it has secured $3 million in a seed fund round led by Telkom Group’s venture capital firm MDI Ventures and Taipei-based technology-driven VC fund Trans-Pacific Technology Fund (TPTF). The round was also participated by returning investor, Siloam Hospitals Group.
Since its founding in 2019 by James Roring M.D., Prixa has raised a total of $4.5 million. The startup plans to use the total raised capital to invest in scaling its user base, reinforcing its relationship with business to business clients, and working on more healthcare services.
“By symptomatically managing patients outside of tertiary care facilities and caring for chronic non-communicable diseases online, Prixa is able to effectively reduce the amount of outpatient claims and downstream inpatient cost incurred by healthcare payers. Additionally, the combination of a growing and robust medical database, as well as proven clinical guidelines, contribute to cost efficiency and service optimization through the standardization of treatment by our healthcare providers,” said Roring.
The platform currently provides services such as scheduling consultations with doctors, requesting on-demand laboratory tests, and having medicine delivered to your home. The company claims that it has served roughly 10 million users.
Prixa aims to humanize the way that health is managed. It makes use of a managed care approach, which is focused on helping patients reduce costs while keeping the quality of care high. For Prixa, this approach is a great fit for its corporate clients that want to reduce their claim and healthcare expenses. The company currently works with multiple Indonesian health insurance companies, such as Lippo Insurance, Mandiri Inhealth, and Generali.
MDI Ventures, a corporate venture initiative by Telkom Indonesia that focuses on early and mid stage startups, has also recently backed another Indonesian HealthTech startup Alodokter as the lead investor in the startup’s venture round. Indonesian telehealth startup Halodoc also recently closed its Series C at $80 million in April 2021.
MDI Ventures general manager of legal and corporate communication Aditia Henri Narendra, said: “MDI co-led this financing because Prixa has demonstrated its ability to support insurance companies and hospitals in making medical services more accessible and affordable through its AI telemedicine platform.”
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