ORA, a Singapore-based telehealth platform that also operates in the Philippines, has raised $10 million in a Series A funding round that will fund its continued geographic expansion and brand development.
Venture capital investors TNB Aura and Antler co-anchored the funding round, with Gobi Partners and Kairous Capital participating. GMA Ventures, the investment arm of Philippine news and entertainment company GMA Network, also chipped in.
Founded by former Zalora Chief Marketing Officer Elias Pour in 2020, ORA is one of the fastest-growing and biggest vertically-integrated telehealth platforms in Southeast Asia. According to its announcement, the startup delivered over 250,000 consultations since its 2021 launch.
ORA said 90% of its patients are under 38 years old and have never been treated before. These new patients have a different set of demands such as flexibility and speed, which ORA’s telemedicine model is placed to treat.
The healthtech startup operates three brands – Modules, andSons, and Ova.
Modules is a first-to-market online dermatology experience making personalized, prescription skincare accessible with 676 different formulations. andSons offers male health solutions while Ova delivers female reproductive healthcare.
ORA said it will use the fresh funding to expand its presence into new territories – in addition to its operations in Singapore, Malaysia, and the Philippines – and develop new products.
The startup expects its brands to be sold across 1,300 tier-one stores in the region this year.
“ORA has had over 6 million patient touch points that provide us with valuable health data through extensive health evaluations and consultation online,” Pour, the firm’s founder and CEO said.
“This has brought unique insights into these patient’s healthcare expectations that have and will inform future innovations with our key partners,” he added.
Pour said ORA achieved post-marketing breakeven at the end of last year on a group level after just 20 months of going live.
In the Philippines, public healthcare faces some limitations. Even as the country has already achieved universal healthcare, it still struggles with unequal access to medical care, according to a report released by insurance firm Allianz.