Swedish Telehealth Company Doktor.se Raises $35 Million in Funding

Doktor.se, a Swedish telemedicine company, secured €29.5 million (~$35 million) in funding from Tencent.

Tencent is investing in Doktor.se as an extension of the earlier round and on substantially the same terms. Tencent will invest up to €29.5 million (~$34.7 million) by subscribing for new shares and acquiring existing shares from an existing shareholder.

Founded in 2016, the Sweden-based Doktor.se offers telehealth services worldwide and operates physical healthcare clinics across the country. According to the company, in 2020, over 1.2 million patient consultations were carried out through its app or physical clinics.

The company is also expanding globally and establishing in Sweden, where its app is used by one-tenth of the population. The company also plans to expand its digi-physical services by acquiring physical healthcare services to integrate into its digital platforms.

During a surge in demand for digital healthcare, hugely accelerated by the pandemic, Doktor.se is the second most downloaded doctor app in Europe, according to app analytics tool Appfigures.

According to Doktor.se, the new funds will be used to further international expansion, develop its technology platform to offer new and improved services for mental health and chronic illnesses, and expand its digital operations and physical clinics to meet growing demand.

Martin Lindman, CEO and co-founder of Doktor.se, said: “We are excited to welcome Tencent in our mission to provide the technology which enables safe and accessible healthcare for everyone, making the experience frictionless and efficient. Tencent shares our belief that we can give patients faster, better care in our unique combination of physical and digital healthcare. We look forward to working with them as we expand internationally.”

Telemedicine companies raised $4.2 billion in 105 deals in 1H 2021, a 147% increase in YoY compared to $1.7 billion raised in 79 deals in 1H 2020.