Artox

ARTOX is one of the leaders in the market of Belarus in the field of advertising on the Internet.

History

2020: Attracting $3 million of investments

ARTOX has raised funding for the development of medical services under the brand 103 (103.kz, 103.ua, 103.by, 103.РФ). The amount of financing is 3 million US dollars.

The Belarusian medical supherapp 103.by raised $3 million for development. Source photo: deti-mba.by

The peculiarity of the transaction is that the collateral was intellectual property - property rights to trademarks - without entering the capital of the company. This is the first such transaction in the financial sphere in Belarus. ARTOX notes that the team of BelVEB Capital, including Executive Director Konstantin Skuratovich and General Director Igor Kuprashevich, was involved in structuring and supporting the transaction.

The funds raised will go to the further development of 103 - Digital Health Ecosystem (DHE).

In superapp 103, it will be possible to solve any health-related issue: use telemedicine, make an appointment with a doctor online, buy medicines, decipher tests, and issue medical insurance. Special attention will be directed to the development of preventive medicine. The prospect of investing in the industry itself is obvious. By 2025, experts predict an increase in the volume of the global digital medicine market by more than 5 times, - says the founder of ARTOX, Alexei Zakharevsky.

Medical IT project 103 is one of the leaders in Belarus (103.by), and is also actively growing in the markets of Kazakhstan (103.kz), Ukraine (103.ua) and Russia (103.РФ). The service combines catalogs of medical institutions and doctors, includes options for online recording in clinics and searching for drugs in pharmacies, contains expert content on the topic of health. The total attendance of services 103 in October 2020 exceeds 10 million per month.

The development of health services, which are provided using digital technologies, is becoming a promising area for investment. Avoiding crowded sites and striving to minimize clinic visits are factors that stimulated the development of the digital medicine market during the pandemic. According to Global Market Insights, in the second quarter of 2020, the volume of investments in Digital Health startups in the global market increased by 22% compared to the first quarter. It is expected that the Digital Health market itself in the next 5 years will grow by an average of 26% per year and reach $640 billion by 2026.