Checking up on SEA's healthtech scene

Check out our top articles for the week. [Read from your browser]( Top Stories of the Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} A few months ago, my mom had to undergo a surgery to fix her fractured arm. During my time with her in the hospital, I was surprised at the level of transparency as well as the processes that were now digitalized. I would receive daily updates from the hospital over email and WhatsApp about the costs for the procedures, the doctors’ fees, the medication administered, and the results of her tests, among others. This is in comparison to a few years ago when getting such information from hospitals was so rare that seeing the final bill of the overall charges could land someone back in a hospital. In addition, I could book follow-up doctor appointments through the hospital’s platform and make payments online easily. It made me think about how healthtech platforms have enabled this digital transformation in traditional healthcare providers. Investments in the healthtech sector during the pandemic played a big part in this process. In a recent piece that outlines Southeast Asia’s healthtech industry, I found out that the total funding amount the sector has received this year so far has already surpassed the amount raised for the whole of 2021 – when investor interest was at its peak. However, a closer look at the data shows that everything isn’t as rosy as it seems. Over 75% of the amount raised by healthtech firms this year came from only two deals. If you exclude those, the total funds raised this year was 35% lower than 2022. It just goes to show that the healthtech sector isn’t immune to the impact of the current funding winter. That said, the data also showed that investor sentiment for healthtech startups still remains strong, as many VC firms have continued to back them. Some, such as East Ventures, have even launched [dedicated funds for healthcare investments](. There were more insights that I was able to glean from analyzing the data and talking to industry insiders. I hope you find it helpful, and I’d love to hear your thoughts on Southeast Asia’s healthtech ecosystem. -- [Collin Furtado]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [SEA’s healthtech map reveals challenges in funding path]( While the amount raised by healthtech firms in 2023 has already outpaced previous years, funding deals have slowed down. 2. [Bukalapak’s financial performance in 7 charts]( These charts help visualize the latest financial figures reported by Indonesian ecommerce major Bukalapak. 3. [Tech in Asia’s next chapter: partnering with SPH Media]( Here's why this deal is a fantastic move for Tech in Asia. 4. [Will Gojek exit Singapore? Reducing its cut from drivers could be a prelude]( The business case for the ride-hailing firm to operate in Singapore remains weak, according to analysts. 5. [Khazanah backed out as anchor investor in eFishery’s series D round: sources]( Tech in Asia’s sources also talked about why Malaysia’s sovereign wealth fund withdrew from the deal. 6. [Indonesia’s major cloud kitchen chains close shop, but it’s not all doom and gloom]( After the departure of GrabKitchen and DishServe, smaller chains like Portale are still optimistic about turning a profit. 7. [GoTo Group’s financial health in 4 charts]( We analyze the financial figures reported by GoTo Group, Indonesia's most valuable tech company. 8. [Capital SEA: Southeast Asia’s funding landscape]( Who are the new active investors on the block? Which funding rounds look like outliers? This visual story answers all this and more. 9. [TikTok early investor to put one-third of new $1b fund into Asia]( US-based Goodwater Capital remains bullish on Asia's consumer tech startups despite growing concerns about profitability. 10. [Funding Societies posts 84% revenue jump in 2022 as losses grow]( The Singapore-based digital lending platform is eyeing profitability in Q4 2024. --------------------------------------------------------------- TECH IN ASIA’S FOUNDERS MEETUP: VIETNAM Did you miss the meetup last June? Great news: We’re coming back to HCMC for another round of our exclusive, founders-only networking event! With over 3,000 startups and four unicorns, Vietnam is solidifying its position as a prominent startup hub in Southeast Asia. As the country continues its upward trajectory, it’s essential to familiarize yourself with the opportunities and challenges in its startup scene. Looking for some fresh perspectives on how to navigate and thrive in this ecosystem? Or do you have tips and best practices that can help others overcome roadblocks? This upcoming event is for you. If you missed the first round of our Founders Meetup, then make sure to mark November 30 on your calendar. Join us in the heart of Ho Chi Minh City at the Hive Villa to connect, learn, and exchange ideas with fellow founders from the Tech in Asia community. Why go on your startup journey alone when you can turn to and collaborate with peers? Tickets are available at an early-bird rate of US$10, inclusive of complimentary drinks. They’re available for a [limited time only - get yours before they’re sold out]( Special thanks to our official event partners - AppWorks, AWS, CleverTap, Cooley, Sinarmas Land, Singapore Global Network (SGN), Quest Ventures, Purple Quarter and AppWorks - and our venue host, the Hive Villa, for making this meetup possible. --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. [logo] [Cyber Security Specialist]( at Pintar Ventura Group Jakarta, Indonesia DevOps & Cloud Management [logo] [Sales Admin - Internship]( at Pasifik Satelit Nusantara Jakarta, Indonesia Administrative & Clerical [logo] [Cashier (Bank & Treasury)]( at detik.com Jakarta, Indonesia Finance, Legal & Accounting [logo] [Merchant Acquisition Specialist]( at PT. 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