India’s largest digital healthcare platform, MediBuddy, raised USD 125 million in Series C. The amount comes from Quadria Capital and Lightrock India, amongst other existing investors. Bessemer Venture Partners, India Life Sciences Fund III, TEAMFund LP, JAFCO Asia, FinSight Ventures, Stride Ventures and Alteria Capital are the existing investors who participated in the round. Investment bank Avendus Capital was the exclusive advisor for MediBuddy.
Purpose of Funding-
The company will use the funds to bolster technology platforms, including data science capabilities. Further, it will invest in customer awareness, hiring, clinical research and product development.
In 2020-21, it raised USD 40 million in Series B round from existing investors.
What MediBuddy has to say-
“From the inception of MediBuddy, we have envisioned making high-quality healthcare easily accessible to a billion people in the country. Digitisation of the healthcare industry has helped people living even in the most remote parts of the country avail timely medical care by professionals. With the latest round of funding, we will capitalise on strengthening our network of healthcare service providers and our team while launching new services on the platform. As always, we will continue to be at the forefront of the digital transformation of India’s healthcare industry
-Co-founder and CEO MediBuddy, Satish Kannan.
What the investors have to say
Tejasvi Ravi, Principal and Healthcare Lead in Lightrock India, said, “MediBuddy is playing a critical role in organising primary healthcare services, improving quality and convenience even as it expands access across India, including Tier II and Tier III towns.”
Dr Amit Varma, Managing Partner and Co-founder, Quadra Capital, also has his say.
He said, “Digital Healthcare is witnessing unprecedented growth, and over the next decade, digital infrastructure will revolutionise the way people consume healthcare services. MediBuddy has already achieved a leadership position in the digital healthcare industry while demonstrating superior unit economics. We are happy to support MediBuddy in further consolidating its position and filling the gaps that exist in digital healthcare.”
About the company-
MediBuddy is India’s largest healthcare platform. It provides its users with 24*7 access to medical experts via video calls, doorstep medicinal delivery, at-home lab tests, mental health support and other aggregated health-related services.
The startup has catered to the healthcare needs of three crore Indians via 90,000 doctors, 7000 hospitals, 3000 diagnostic centres and 2500 pharmacies. Moreover, it covers 96% of the Pin Codes of the country.
MediBuddy Gold Plan offers a subscription plan covering unlimited doctor consultation for the entire family. The Covid-19 Pandemic led to the surge of the subscription model.
The firm is ready to scale new heights and make quality healthcare services available to its users.
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