East Ventures, Forge Ventures bet on Nexmedis to drive AI-powered healthcare

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As part of its latest bet on the health sector, East Ventures has invested in Nexmedis, an Indonesia-based provider of AI-powered health information systems, in an undisclosed round co-led with Forge Ventures.

Founded in 2023 by CEO Yehuda Dani Utomo (pictured, centre), COO Matilda Narulita (pictured, right), and chief medical officer Almer Deta Tarandha (pictured, left), Nexmedis leverages expertise in computer science, management consulting, and medicine to drive healthcare innovation. Its AI-powered health information systems aim to optimise healthcare processes for medical professionals and institutions alike.

The investment will enable the company to advance its mission of transforming healthcare operations, enhancing clinical services, and improving patient outcomes across Indonesia, according to a release.

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The country's healthcare sector continues to grapple with inefficiencies caused by manual administrative processes and fragmented data. These challenges have hindered timely diagnosis and treatment. Furthermore, Indonesia's vast geography presents difficulties in providing medical tools and training to remote areas, impacting the quality of patient care.

At the core of Nexmedis' solution is its AI-driven clinical decision support system, which aids healthcare providers by offering diagnosis recommendations using ICD-10 codes - the globally recognised standard for disease classification. This technology facilitates personalised treatment recommendations and insurance claims processing, ensuring accurate documentation for Indonesia's BPJS Kesehatan and private insurers.

In addition, the company is developing an AI-powered transcription tool designed to convert voice notes and summarise consultations between doctors and patients into structured digital records. This innovation aims to streamline operations by reducing manual paperwork, allowing medical professionals to focus on patient care. The tool is set to launch soon.

"We are thrilled to have secured this investment, which will be a game-changer as we continue to innovate and bring AI-driven solutions to healthcare. The commitment from East Ventures and Forge Ventures is a testament to the trust they've placed in our mission to bridge the healthcare accessibility gap through innovative technology. With their support, we are poised to accelerate our growth and impact to improve patient care and outcomes," said Utomo in the release.

Since August 2023, Nexmedis has been adopted by more than 400 healthcare facilities. Its AI-based medical diagnostics technology has received the "Dibina oleh Kemenkes" (Fostered by the Ministry of Health) designation within the Indonesian health ministry's regulatory sandbox programme. The company has also established official partnerships with the communications and information technology ministry for AI-driven healthcare digitalisation and collaborates with leading institutions such as Gadjah Mada University as a research partner.

East Ventures has continued to back the health sector, bolstered by a dedicated US$30 million fund launched in 2023. Previously, it invested in health firms such as Mesh Bio, AMILI, Aevice Health, Etana, Diri Care, NalaGenetics, and Nusantics.

"We are glad to be part of Nexmedis' journey in transforming Indonesia's healthcare landscape by integrating AI to enhance efficiency and improve patient care. Their strong development and partnerships with key institutions demonstrate the urgent need for innovative digital solutions in the sector," said Melisa Irene, partner at East Ventures.

"Everyone has the right to great healthcare, and a big part of that means empowering health practitioners and outfitting hospitals with the best possible technology," said Tiang Lim Foo, managing partner at Forge Ventures.

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