Phnom Penh (FN), Jan. 14 – IG Group (IGG) has decided to invest Meet Doctor (MD) founded by Buntongyi Nit, one of the Angkor500 graduates from an incubation program which Khmer Enterprise (KE) has initiated on behalf of Ministry of Economic and Finance. The signing ceremony was conducted on 14 January 2022 at KE’s hall, on the occasion of commemoration of the signing of the partnership between IG Group and Meet Doctor. It is fully funding in pre-seeding ask in form of capital investment as well as technology development and support, at significant six digits valuation, to further support MD’s tech development, incorporation of the MD’s entity in Cambodia, strategic business growth and expansion within the Phnom Penh, provincial areas as well as abroad.
Chieng Vanmunin, CEO of Khmer Enterprise mentioned that: “When Khmer Enterprise partner up with global accelerator 500Global to establish Angkor500 in Cambodia, Khmer Enterprise is ready to work with global experts to help our local community adjust and adapt to the international’s curriculum. Seeing our graduates are able to obtain investments and to continue their entrepreneurship journey further, shows Cambodia is ready for both domestic and international growth. Khmer Enterprise cannot wait to see what exciting development and new opportunities await our other potential startups.”
The signing ceremony between IG Group and MeetDoctor has been attended by other relevant stakeholders, including representatives of ImpactHub, UNDP and many others. The Investment TermSheet was signed by IGG’s Vice President of Technology & Innovation, Sophanak Chhor, witnessed and endorsed by IGG’s chairman Puthhkiry Kim; as well as countersigned by MD founder, Buntongyi Nit.
IGG’s chairman, Puthkiry Kim has said, among the other key remarks, that: “IG Group mission is to transform, to shape and to support. Transform the means we operate. Shape the environment we live in and to Support government/public and private efforts to create country of growth and balance. It is exciting to see that one of the most overlooked areas in digitalization as well as overall improvements, in Cambodia, which is medical system, is getting its fair share of attention. I wish MeetDoctor, IG Group and many other entrepreneurs and professionals, all the best on our transformational journey ahead and may all our efforts be blessed and successful, as without a shadow of a doubt, healthcare vertical is increasingly becoming one of the most critical success factors for Cambodian citizens general wellbeing.”
Sophanak Chhor, IGG’s vice president of Technology & Innovation, noted that MeetDoctor and IGG are to further focus on digitalization of medical care in the country, solving challenges such as inaccessibility of the healthcare, excessive healthcare costs, access to qualified medical professionals, access to insurance and healthcare financing, medical data and AI processing and sharing as well as analytics and more.
MD founder, Buntongyi Nit have said: “MeetDoctor has great ambition. To provide medical care available to every single Cambodian citizen, at affordable costs, from the comfort of their homes. And not just any medical care, but care conducted by the highest standards, by both domestic and international professionals. And this would not be possible if we do not create entirely new business vertical and transform healthcare in the country via digital means. With that being said, I am blessed to have support of IG Group on this journey, to create a healthcare superapp, reaching to entire country with an honorable goal we, as MeetDoctor have. The goal, I personally, as Cambodian doctor myself, can vouch for – to improve access to qualified medical professionals to every single corner of our nation, as it is exciting, yet terrifying to see, how far our entire healthcare system must go, to improve socio-economic wellbeing for every citizen.”
Event was also witnessed by other IGG’s members as well as Tomas Pokorny, CAFT board member and secretary general, advisor to IGG, Pi Pay CEO, founder of D.Q.D Consulting Co., Ltd. and independent board member of FWD Insurance (Cambodia); as well as the message by Jitka Markova, program director for Angkor500, was shared, congratulating MD on this milestone: “I remember looking at your startup with awe to see that Cambodia is finally venturing into health-tech space and I am honored that Angkor500 could be part of your growth journey you are still undertaking. I wish you that this is just a very important, yet very small step, towards development of the entire new business vertical in the Kingdom of Cambodia.”
Khmer Enterprise, established by the Ministry of Economy and Finance (MEF), aims to mobilize, invest and manage resources to support the development of a vibrant entrepreneurial ecosystem in Cambodia, thereby promoting entrepreneurial activities driving innovation and value-added creation in Cambodia’s economy. Khmer Enterprise has a vision to become the national platform for promoting entrepreneurial activities in the four priorities sectors: ICT focuses on tech startup, service focuses hospitality and logistics, agriculture focuses on agro-processing for domestic consumption and agriculture for export, and lastly manufacturing focuses on import substitution.
IG is a startup, innovations, transformations trading and agriculture conglomerate concentrating companies such as IdeaLink Consulting Ltd., IG Trading Group Co., Ltd. Our dream is to create an ecosystem and to be part of it. Such ecosystem where businesses in it are actively bridging informal and formal business and social sectors, establishing the readiness of rural areas to be synergetic with urban ones, ensuring older generation interoperability with new digital demographics, enabling for humanity to be ready for automation and industry 4.0, allowing people in often so unprepared developing regions to become driving economic factors of the entire world. As per latest notions of global leaders preparing for digital and post Covid world, IG's vision is to support new collective capitalism and economy of inclusion.
MeetDoctor founded by young medical professional, Buntongyi Nit, Cambodian doctor and entrepreneur, is a platform that provide one-stop healthcare services including online consultation with any medical specialties along with medicine delivery, home lab test and medical appointment.