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.