Indonesia-based health tech company Good Doctor Technology (GDT) has raised $10 million in Series A funding round led by Telkom Indonesia's MDI Ventures with participation from existing investor Grab.

The news confirms **[DealStreetAsia's Report in May](https://www.dealstreetasia.com/stories/good-doctor-technology-funding-round-342423)**, which had said that GDT was looking to raise up to $15 million in a new funding round from several investors including MDI Ventures.

"The new funding will be used for several things including tech platform development, especially to cater to our enterprise clients. We'll also utilise the investments for new product and services development, as well as for company operations," Good Doctor Technology's CEO Danu Wicaksana told DealStreetAsia.

Moreover, the company plans to extend its reach in the healthcare sector to cater to a broader Indonesian population. GDT will forge new partnerships with more private institutions such as insurance companies and corporate clients, as well as with public institutions including BPJS Kesehatan (the social health insurance administration body).

Wicaksana said GDT continues to see strong growth post-pandemic. "The growth is mostly driven by our focus on B2B2C segment where we work with more than 60 major insurance companies, third party administrators (TPAs) and brokers, serving over 2,500 companies including large corporations, government organizations, and tech startups." he added. The company counts Great Eastern Life Indonesia and AXA Financial Indonesia as partners.

In total, GDT has about 15 million users. It also partners with 2,500 doctors as well as 4,500 pharmacies, hospitals, labs, and clinics, Wicaksana continued.

The company saw three key changes in user behaviour post-pandemic. First, while users accessed the GDT platform for Covid-related concerns during pandemic, they are now using the platform for other ailments like fever, cough, dyspepsia, ulcers, and allergies. Secondly, while consultations were previously individual and self-funded, now many companies are providing Good Doctor's services to their employees. Thirdly, those who adopted Good Doctor's services during the pandemic continue to rely on telemedicine even after the pandemic's end.

"We recognise the progress that Good Doctor has made and the resilience of Good Doctor's business model in Indonesia, especially in its enterprise segment. Their dedication to providing accessible, high-quality healthcare services by leveraging technology has attracted our attention. We see immense growth potential in this endeavour," said MDI Ventures CEO Donald Wihardja.

Good Doctor technology was formed in August 2018 as a JV between Hong Kong-listed online healthcare platform Ping An Good Doctor and Southeast Asian ride-hailing giant Grab. However,  as reported by DealStreetAsia in March, GDT bought back Ping An Good Doctor's stake in the JV.

A telehealth platform, GDT allows customers to consult with doctors online, buy medicines from Health Mall, and book offline doctor appointments at hospital partners.

"We continue to believe in what Danu and the Good Doctor team are doing in the healthcare technology space, thus our continued investment is a testament to that believe," said Neneng Goenadi, Country Managing Director Grab Indonesia.

According to Wicaksana, GDT has various partnerships with Grab, including instant drug delivery with Grab Express where users in 200 cities can expect delivery between 30 minutes and 60 minutes; GDT provides digital healthcare services to Grab employees and a select group of Grab drivers.

"We also have collaboration for government programmes. For Instance between 2021 and 2022, together with Grab, we built 20 vaccination centers to help the Indonesian government in accelerating COVID-19 vaccinations, where we vaccinated more than 220,000 people," said Wicaksana.

[DealStreetAsia](https://www.dealstreetasia.com/stories/good-doctor-bags-series-a-366033)

Indonesia's Good Doctor Technology bags.webp

Indonesia-based health tech company Good Doctor Technology (GDT) has raised $10 million in Series A funding round led by Telkom Indonesia's MDI Ventures with participation from existing investor Grab

Indonesia's Good Doctor Technology bags $10m Series A led by MDI Ventures

MDI Ventures, CVC dari PT Telkom Indonesia, meluncurkan dokumen Whitepaper berjudul “How Large Enterprise Can Enter CVC” yang membahas peran penting CVC untuk menghasilkan laba dari investasi dan mendorong sinergi startup dan perusahaan secara dua arah.

Direktur Digital Business Telkom, Muhammad Fajrin Rasyid menjelaskan, “Telkom Indonesia senantiasa berkomitmen untuk mendorong inovasi teknologi dalam lanskap digital Indonesia melalui lini CVC kami, yakni MDI Ventures yang berdiri sejak tahun 2016. Dengan salah satu fokus MDI untuk menjembatani kolaborasi antara BUMN, perusahaan, dan startup digital, kami berharap peluncuran Whitepaper ini dapat menjadi referensi utama yang bermanfaat untuk semua pihak yang tertarik memasuki lanskap CVC”.

Salah satu paparan menarik dari Whitepaper MDI Ventures menunjukkan bahwa kehadiran startup – walaupun menyebabkan disrupsi untuk bisnis konvensional – sebetulnya menawarkan potensi menarik untuk bersinergi dengan perusahaan konvensional yang lebih mapan.

Misalnya, investasi MDI Ventures terhadap startup Privy yang memiliki spesialisasi sebagai Startup penyedia layanan tanda tangan dan identitas digital. Teknologi Privy diadopsi dan diintegrasikan ke seluruh bisnis Telkom Group hingga membuat proses secara keseluruhan lebih cepat, lebih efisien, dan lebih aman.

Perusahaan portofolio MDI Ventures lainnya, Zenlayer, startup penyedia layanan cloud yang berpusat di Los Angeles, Mumbai, dan Singapura, turut menjalin kemitraan strategis dengan Telin untuk menyediakan layanan IP Transit dan collocation.

Jaringan global Zenlayer dan keahlian Telin dalam infrastruktur telekomunikasi menciptakan sinergi yang kuat, memberikan solusi konektivitas yang lebih canggih untuk pelaku bisnis di seluruh dunia. Sejak tahun 2017, Zenlayer dan Telin telah berkolaborasi dengan edge data center dan layanan jaringan cloud.

Investasi dari CVC menawarkan beberapa keunggulan bagi startup. Pertama, di kebanyakan kasus, startup bisa mengakses sumber daya yang dimiliki oleh perusahaan-perusahaan yang notabene lebih mapan.

Sumber daya ini bisa berupa aset, keahlian, data, ataupun koneksi bisnis. Kedua, investasi CVC memiliki kredibilitas tinggi, sehingga dapat meningkatkan tingkat kepercayaan investor eksternal terhadap potensi pertumbuhan startup. Tidak hanya itu, investasi CVC juga membuka lebih banyak kesempatan exit bagi startup, misalnya dengan akuisisi ke perusahaan induk CVC.

“Whitepaper ini merupakan yang pertama di Indonesia yang menyediakan paparan komprehensif terkait peran CVC di era ekonomi digital. Kami berharap, dengan semakin meluasnya wawasan terkait CVC, maka akan semakin banyak perusahaan serta startup yang menjalin sinergi dengan skema tersebut, terutama karena tren ini juga sejalan dengan fenomena global,” tambah Muhammad Fajrin Rasyid.

Di sisi lain, CVC juga bisa meraup keuntungan seperti: integrasi teknologi dan keahlian baru, membuka keran pendapatan baru di luar bidang bisnis inti, serta potensi imbal balik yang signifikan dari investasi (return on investment). Untuk membantu perusahaan yang tertarik untuk mengeksplorasi investasi melalui CVC, Whitepaper MDI Ventures pun memberikan checklist serta langkah-langkah untuk memulai pendirian CVC.

[Kontan.co.id](https://pressrelease.kontan.co.id/news/terbitkan-whitepaper-mdi-ventures-paparkan-peran-penting-cvc-di-era-ekonomi-digital)

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MDI Ventures, CVC dari PT Telkom Indonesia, meluncurkan dokumen Whitepaper berjudul “How Large Enterprise Can Enter CVC” yang membahas peran penting CVC untuk menghasilkan laba dari investasi

Terbitkan Whitepaper, MDI Ventures Paparkan Peran Penting CVC di Era Ekonomi Digital

StartupHighlight

Kredivo is online with a credit card payment methods in 30 days or in installments 03.06.12 month.

Kredivo has built a modern API to let you provide your customers with innovative financing options. This API reference will help you get started on including Kredivo as a new payment method on your site.

Kredivo

SiCepat is a shipping company that was founded in 2014 with the vision and mission to be the best in its field.

SiCepat provides end-to-end logistic solutions for its customers ranging from first mile, middle mile, and last mile delivery solutions. These offerings is provided through 5 entities operating under OnStar.

SiCepat

End-to-end logistic solutions for customers

Qoala is a disruptive insure-tech company that leverages big-data, machine learning, IoT and blockchain aiming to revolutionise insurance landscape in Indonesia. Qoala partner with big companies, including e-commerce and travel platforms, to enhance their customer experience through our unique and innovative insurance products.

With their cutting-edge technologies plus sophisticated mathematical and machine learning models, Qoala aim to create a seamless customer experience through automatic claims, personalisation and fraud detection engine. Founded in 2018, Qoala is a group of mathematicians and computer scientists with strong insurance and technology backgrounds, with experiences at BCG, Traveloka, and Accenture.

At Qoala, we welcome highly talented and ambitious individuals to join our growing team and help us in reshaping insurance landscape in Indonesia, be innovative and creative with business and building insights from big data to transform the industry with technology.

Qoala

The first fully digital Insurance experience in Southeast Asia

Cermati is a financial technology (fintech) startup based in Indonesia. Cermati simplifies the process of finding and applying for financial product by bringing everything online so people can shop around for financial products online and can apply online without having to physically visit a bank.

Cermati is a B2B2C full-stack financial technology startups with core product in Buy Now, Pay Later (BNPL). In the future Cermati is planning to further expand to wealth management, risk scoring & KYC, and Banking-as-a-services (“BaaS”). BaaS platform will utilizes Cermati’s licenses and allows for cross-selling of Cermati’s existing products to end consumers via partners’ platform.

Cermati

Fintech company that provides information to ease find various financial products

Paxel are a tech-based delivery company committed to solving last-mile challenges in Indonesia and the region.

They are inspired by the urban, passionate and socially conscious generation who become the mindset of their design innovation. This is why they focus on delivering a customer-driven experience that allows convenience and control. At Paxel, they make sure that what you want is ready when you want it and everything you need is just a click away.

Paxel

Tech-based delivery company in Indonesia and the region

KoinWorks focuses on SMEs that are underserved by traditional financial institutions and may not have a bank account or credit cards. On the platform, users can create an online bank account and card, borrow working capital and access point-of-sale, early-wage access, and human resources management systems tailored for small businesses.

KoinWorks is headquartered in Jakarta, with holdings in Singapore and tech offices in Yogyakarta, India, and Vietnam. KoinWorks was originally created to help SMEs, which are often turned away by traditional financial institutions, get access to working capital. Since then, it has also developed a comprehensive platform of financial tools to help its customers, including e-commerce vendors and social commerce sellers, increase their sales.

KoinWorks

The First Super Financial App in Indonesia

Amartha was established in 2010 as a micro-financing company in order to bridge micropreneurs with online potential lenders.

The amount of micropreneurs who had difficulties to raise funds for their business due to limited access, income fluctuation, and no credit history was the beginning of our story. We believe these micropreneurs can evolve to become quality borrowers with the right technology and the spirit of cooperation. Investing in microbusinesses is also proven to create a great deal of social impact.

Amatha believe the easiness to funding access for micropreneurs will contribute to improve the well-being of the people categorized at the bottom of the pyramid, build economic resilience, and social justice for all.

Amartha

Pioneer fintech online P2P lending platform in Indonesia

InstaReM began in 2014 with a vision to simplify the cross-border payments experience for consumers. While continuing to be an expert in consumer remittances, the team behind InstaReM expanded and scaled its offerings to meet the needs of SMEs, Financial Institutions, Enterprises, and even other payment service providers. That expansion included an innovative technology infrastructure that makes sending, spending, and receiving money across borders faster, more transparent, and better integrated with our customers’ lives and business needs. InstaReM is powered by the same platform that we offer our enterprise clients.

That platform is Nium.

Our network is powered by our portfolio of licenses, hard-earned by building trust with financial regulators in over 90 countries. This combination of regulatory and tech assets is unique to Nium and is at the core of our unique value proposition.

Nium

Leading digital cross-border payments fintech

Mobile Premier League (also known as MPL) is the mobile e-Sports platform based in India. It is operated by Bangalore-based Galactus Funware Technology Pvt. Ltd.

Users can compete in multiple skill based mobile gaming tournaments on MPL. It was launched in September 2018 and as of April 2019, it claims a user base of more than 25 million

Mobile Premier League

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Fintech

Indonesia

MDI 100

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Logistic

MDI 500

Centauri

Geniee helps to Maximize Your Ad Revenue with High-end Technology.

Geniee Supply Side Platfrom  is a platform designed for web publishers to maximize their revenues. It enables users to deliver ads to earn maximum revenue from pure advertisements, Demand Side Platform, Real Time Bidding through Ad Exchange, multiple ad networks, and affiliate ads.

Geniee handles 14 Billion impressions per month and expanding our business into South East Asia. In 2013, The new company’s name is “Geniee Vietnam Co., Ltd.”, located in Hanoi, Vietnam, and is set up as a 100% subsidiary of Geniee International Pte. Ltd.

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Geenie

Maximize the Revenue with a Leading Technology

Others

Japan

Whispir is a cloud platform that automates communication flows, allowing businesses to create powerful conversations with their clients. Whispir creates a unique customer offer, coordinate an incident response in an instant. It is a cross-channel communications software that has been used by most blue chip enterprise in the region such as DBS, OCBC, Coca-Cola Company, Caltex, and IBM.

Whispir helps companies design communications applications to match and connect the right people to the right information. With rich content creation, contextual automation and cross‐channel interaction from one secure platform ‐ almost any business process can now be communications enabled.

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Whispir

Engage your audience through communications applications

Australia

Enterprise

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Singapore

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India

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This whitepaper delves into the opportunities and challenges of corporate venture capital (CVC) for large, legacy enterprises, with a specific focus on state-owned enterprises (SOEs) in Indonesia and the ASEAN region, as well as how businesses can effectively enter the CVC industry to drive outsized growth.

Starting with the common problems faced by large enterprises in today's business climate and how startups can help solve these issues. Then, it examines the cautionary tales and case studies of disruption in the industry, where innovative startups have overtaken legacy incumbents.

It also emphasizes that SOEs and large corporations must acknowledge and tackle internal challenges. They need to reevaluate processes, products, and red flags that hinder future success.

We bring you to the next section to delve into understanding CVC as a model, and how large legacy players can leverage it to their advantage. It provides a snapshot of the ASEAN region's CVC landscape and an overview of Indonesia's largest CVC players.

The paper also stresses the significance of conducting a comprehensive SWOT assessment for corporations, offering a checklist for reference. It also explores strategies for handling threats, both offensively and defensively, for CVCs in Indonesia.

Not to mention, the next section scrutinizes ASEAN's capital market liquidity, forecasting an upswing in CVC returns and favouring IPOs for startups aiming at higher growth. The final section outlines SOEs' entry strategies into CVC, emphasizing the advantages of collaborating with established CVC firms like MDI Ventures, providing valuable expertise, corporate synergy, and resource efficiency for a superior CVC experience.


MDI Whitepaper Enter CVC (Web Banner)-42.png

This whitepaper delves into the opportunities and challenges of corporate venture capital (CVC) for large, legacy enterprises, with a specific focus on state-owned enterprises (SOEs) in Indonesia and the ASEAN region, as well as how businesses can effectively enter the CVC industry to drive outsized growth.

How Large Enterprise Can Enter CVC

Get White Paper: How Large Can Enterprise Enter CVC

Get White Paper: How Large Enterprise Can Enter CVC

MDI-EnterCVC.pdf

AriseConviction - The Evolutionary Growth of Digital Opportunities Introduces a New Era of Creator Economy.

The emergence of newer social media platforms encouraged the cultural and generational shift, where being a #creator is considered a viable and increasingly desired career.

For the purpose of clarity, there are 3 different kinds of creators:

- The Influencer - people with respected perspectives to influence
- The Teacher - or educators, are people engaged in teaching materials
- The Artist - or creators of stories, artwork, NFTs, etc

Indonesia’s creator economy is estimated to be valued at USD 9.15 billion in 2021 with a 72.9% growth rate compared to 2020. However, challenges for creators around financing, operations, and monetization still remains. Comparing it to the U.S market, there is still untapped potential of 81.65%.

There is still room for innovative solutions in this industry to optimize and amplify existing creators in terms of financials, operational efficiencies, and monetizations. These solutions can also be very niche to different types of creator categories (beauty, gamers, educators, etc.)

What type of solutions do you think can empower and amplify the creator economy in Indonesia?

White Paper Cover-12.png

AriseConviction - The evolutionary growth of digital opportunities introduces a new era of Creator Economy. The emergence of newer social media platforms encouraged the cultural and generational shift, where being a creator is considered a viable and increasingly desired career. For the purpose of clarity, there are

Arise Conviction: Evolutionary Growth of Digital Opportunities

ariseconviction-creatoreconomy.pdf

This report is an update from our last supply chain report in 2019. We removed 387 startups from our last list of supply chain companies (didn’t represent supply chain or was too old) and we added 598 new startups to our list (startups we missed before and some new).

We updated our report to not only highlight how all supply chain startups build a competitive product by function, feature or use case; but we also showcase how each category has changed/evolved. This report is color coded to reflect changes, see how to read this report at the bottom of the executive summary.

For those seeing this report for the first time, we attempted to map the entire supply chain startup ecosystem (1000+ logistic startups). We then filtered these startups into 10 categories and labeled the top startups per category. We then looked through every startup to understand how they innovate by function, feature and use case. Having both a macro and detailed view of the ecosystem allows us to predict disruption within the supply chain ecosystem.

\-

By Kyle Kling

White Paper Cover-10.png

This report is an update from our last supply chain report in 2019. We removed 387 startups from our last list of supply chain companies (didn’t represent supply chain or was too old) and we added 598 new startups to our list (startups we missed before and some new).

Managed Fund

Global Multi-Stage VC Firm for Local Founders

How we make it happen >

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US$ 830 Mn

80+

US$ 708+ Mn

Investment

News

Indonesia's Good Doctor Technology bags $10m Series A led by MDI Ventures

News

Terbitkan Whitepaper, MDI Ventures Paparkan Peran Penting CVC di Era Ekonomi Digital

WHITE PAPER

How Large Enterprise Can Enter CVC

WHITE PAPER

Arise Conviction: Evolutionary Growth of Digital Opportunities

WHITE PAPER

Supply Chain Startup Report 2022