Good Doctor secures funding to become independent startup

Technology-based integrated healthcare provider Good Doctor has raised US$10 million in a series A funding round led by Telkom Indonesia-backed MDI Ventures, with participation from existing investor Grab.

Following the investment, Good Doctor is now an independent startup helmed by its CEO Danu Wicaksana as Grab and SoftBank Vision Fund will take on minority shareholder roles instead of participating in the joint venture.

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It currently operates as both a standalone app and as a part of GrabHealth to provide health consultation, medication and health products while allowing consumers to book medical appointments. Good Doctor also aims to establish new partnerships with more private and public institutions such as BPJS Kesehatan.

Good Doctor’s growth in Indonesia comes as no surprise as 70% of people intend to continue using telemedicine services even when the pandemic is over, according to a survey conducted by global management consultancy McKinsey & Company.

Wicaksana added, “Those who used Good Doctor services during the pandemic still relied on telemedicine even after the pandemic ended because they were comfortable with the service and it was already part of their routine health services.”

“We see that the health technology sector in Indonesia is ready to face disruption and has potential, so we are confident that Good Doctor will be able to play a big role in the process,” said Neneng Goenadi, country managing director, Grab Indonesia.

As Grab bolsters its telemedicine offerings, the company will be ceasing operations for its AutoInvest and Earn+ investment products from 2 October 2023 in Singapore. The company will also be winding down its GrabInvest business, according to a notice on its website. 

In its notice, Grab highlighted that the decision is a result of an extensive review which concluded that its AutoInvest and Earn+ products were not commercially viable in the long run.

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