E-pharmacy startup Medigo raises $1 million
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E-pharmacy startup Medigo has received a $1 million investment from venture capital firm Touchstone Partners.
The med-tech company, which helps users order medicine from pharmacies in the comfort of their homes, plans to expand its offerings to telemedicine and other healthcare services amid growing healthcare spending in Vietnam.
Medigo, launched in July 2019, has partnered with over 200 medical institutions in Ho Chi Minh City, Hanoi, and Da Nang.
In the past six months, it saw gross merchandise value increase eight times. Medigo currently has over 200,000 users on its platform.
Touchstone Partners is an early-stage Vietnamese venture capital firm that launched its inaugural $50 million fund earlier this year.
Speaking of the investment, co-founder of the firm Ngo Thuy Ngoc Tu said that amid the pandemic, Medigo has offered sustainable solutions to help Vietnamese access healthcare services at reasonable costs.
Questions & Answers
Q.What are Medigo's future plans for its services?
What are Medigo's future plans for its services?
Medigo intends to expand its offerings to include telemedicine and other healthcare services. This expansion aims to meet the demands of growing healthcare spending in Vietnam.
Q.When was Medigo launched and how many users does it currently have?
When was Medigo launched and how many users does it currently have?
Medigo was launched in July 2019. The e-pharmacy platform presently has over 200,000 users registered on its system.
Q.How has Medigo's financial performance been recently?
How has Medigo's financial performance been recently?
Medigo has shown significant growth in its financial performance. Over the past six months, the company's gross merchandise value increased by eight times.
Q.What is Touchstone Partners' primary focus as a venture capital firm?
What is Touchstone Partners' primary focus as a venture capital firm?
Touchstone Partners is an early-stage Vietnamese venture capital firm. It launched its inaugural $50 million fund earlier this year, indicating a focus on new and developing businesses.
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