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Home Feature News

Living Lab Ventures unveils Biomedical Fund, targeting Indonesia’s healthtech and biotech startups

Living Lab Venturs has injected fresh funds into around 27 startups, focusing on three aspects: Smart Technologies, Digital Life, and Mobility.

Syifa by Syifa
January 25, 2024
in Feature News, News, Technology
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Living Lab Ventures
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Heaptalk, Jakarta — Sinar Mas Land’s venture arm, Living Lab Ventures (LLV), launches the Biomedical Fund to foster startups in the biomedical sector, research centers, biobanks, and other health technologies. This managed fund is also expected to facilitate the development of more efficient and highly competitive solutions.

The post-pandemic era has shown new trends in Indonesia’s public health landscape, indicated by the increasing demand for access to public health services. According to the World Bank, the percentage of Indonesia’s public health spending on Gross Domestic Product (GDP) increased from 2.6% in 2014 to 3.2% in 2022. However, this outcome remains lower than the low-income country average of 4.9%.

Partner Living Lab Ventures, Bayu Seto, has previously revealed this strategic intention, whereby the company will focus on increasing investment in the biomedical and health services sector in 2024. However, the Sinar Mas Land venture arm refused to mention the detailed managed funds for the health sector. Nevertheless, LLV aims to inject fresh funds into the early-stage startup, with funding amounts ranging from hundreds of thousands to millions of dollars.

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“will continue to invest aggressively, especially in the biomedical and healthcare sectors. We are very enthusiastic about launching the Biomedical Fund. Through the financial support and mentorship provided, we intend to speed up the growth and development of startups in the biomedical sector.” Bayu added.

Biomedical Fund will allow funding to startups that provide health services, including diagnostic technology, health data management, telemedicine platforms, and other innovative solutions.

As is known, managed funds focused on developing health technology still need to be higher in the archipelago. Previously, East Ventures was reported to have been raising managed funds for the health sector worth US$30 since last year. Besides, Bio Farma also released the Bio Health Fund in collaboration with MDI Ventures, which is focused on investing in biotech. Through the launch of the Biomedical Fund, LLV aims to improve the quality of Indonesia’s health infrastructure to make it more resilient.

LLV has augmented its portfolios significantly by injecting strategic investments into multiple startups, covering Jumpstart, Amoda, Paper.id, and BRIK. These investments are limited to the proptech sector and include a sector-agnostic approach demonstrating flexibility and a keen eye for breakthrough opportunities. In its investment disbursement, LLV has injected fresh funds into around 27 startups, focusing on Smart Technologies, Digital Life, and Mobility.

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