US-based Inbox Health raises US$ 15M in Series A funding

On June 1, 2022, Bertelsmann India Investments and General Catalyst led a US $25 million Series B investment round for Bengaluru-based health tech firm Orange Health. Y Combinator, Good Capital, Accel, and Uncorrelated Ventures participated in the round.

The business intends to use the additional funding for product development, laboratory construction, and user experience enhancement. It also wants to grow into new areas and strengthen its existing staff.

The business claims to have a net promoter score (NPS) of above 80. Orange Health has previously secured US $10 million in a Series A investment headed by Accel.

What the founders have to say:

According to a statement from the company’s founders, Dhruv Gupta and Tarun Bhambra, the funds will be used to expand Orange Health’s tech stack and expand product development.

“When it comes to diagnostics, the faster, the better. While traditional diagnostic laboratories require customers to visit them at collection centers, most home collection diagnostic startups have struggled to deliver timely services. This market gap is filled by Orange Health’s low-cost, on-demand service. Our focus has always been on the speed and reliability as a tech-enabled diagnostics company built around clients,” the founders stated.

What the investors have to say:

Anand Chandrasekaran, partner at General Catalyst:

“Orange Health has an incredible capacity to build worldwide benchmarks in the speed of collecting of test findings from the minute a prescription is issued without increasing prices for patients,” 

Pankaj Makkar, Managing Director of Bertelsmann India Investments:

“Orange Health is trying to bridge the gap between online and offline worlds by offering the latest consumer tech experience and offering high-quality healthcare to make healthcare accessible and affordable. Healthcare and diagnostics have emerged as an essential subject for India over the last two years, and we believe Orange Health is on track to make it seamless for doctors and patients.”

About the company:

In Bengaluru and the national capital region, Orange Health, launched in 2020, offers over 2,000 health test services (NCR). The tests are completed in 60 minutes, and the results are provided the same day. According to the company, more than 1 million customers have used its services thus far.

Orange Health claims to have served over 1 million customers in Bengaluru and the National Capital Region with diagnostic testing services. It further claims that test findings can be delivered in as little as six hours from when a sample is obtained at home or at a clinic.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

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