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Digital healthcare start-up MediBuddy has raised $125 million in a Series C funding round led by Quadria Capital and Lightrock India along with participation from existing investors Bessemer Venture Partners, India LifeSciences Fund III, Rebright Partners, JAFCO Asia, TEAMFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures, and Alteria Capital.
The start-up said that with the new round of funding the company will further invest in customer awareness, hiring, strengthening technology platforms including data science capabilities, clinical research, and product development.
MediBuddy provides its users with 24×7 access to specialist doctors via video calls, doorstep medicine delivery, at-home lab tests, mental health support, and other integrated healthcare services.
The platform has successfully catered to the healthcare needs of over 3 crore Indians, leveraging its unparalleled pan-India network of 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centers, and 2,500 pharmacies that cover over 96 per cent of PIN codes across the country, as per an official statement.
Satish Kannan, co-founder, and CEO, MediBuddy, said that from the inception of MediBuddy, the company has 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 andour 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,” Kannan added.
“MediBuddy is playing a critical role in organising primary healthcare services, improving quality and convenience even as it expands access across India including Tier 2 and Tier 3 towns. The leadership team have a remarkable understanding of consumer need and have scaled their reach and services to aleadership position. MediBuddy’s care-platform provides seamlessly integrated care that is leading the way in increasing uptake of primary healthcare and helping millions of customers stay healthy,” Tejasvi Ravi, Principal and Healthcare lead, Lightrock India, said.
