Vietnamese E-pharmacy Startup Secures USD 1 Million

Oct 2021

In September 2021, it was announced that Vietnam’s E-pharmacy startup Medigo secured a USD 1 million investment from venture capital firm Touchstone Partners, an early-stage Vietnamese venture capital firm that launched its inaugural USD 50 million fund earlier in 2021.

The med-tech start-up allows users to order medicine or upload their prescriptions to connect directly with a pharmacist who can offer a consultation or have medicine delivered in less than 30 minutes. It has plans to expand its offerings to telemedicine and other healthcare services amid growing healthcare spending in Vietnam.

Medigo was launched in July 2019, and has so far launched collaborations with over 200 medical institutions in key locations, such as Ho Chi Minh City, Hanoi, and Da Nang.

In the past six months, the Vietnamese start-up witnessed its gross merchandise value increase eightfold. Currently, Medigo counts over 200,000 users on its platform.

Speaking of the investment, co-founder of the firm Ngo Thuy Ngoc Tu said that a key enabler of Medigo’s rapid growth is represented by its ability to offer sustainable solutions to help Vietnamese access healthcare services at reasonable costs during the Covid-19 pandemic.

(Sources: TechInAsia; VnExpress)

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