MediBuddy raises $125 million in funding from Quadria Capital, Lightrock India
Source：Taipei World Trade Center Liaison Office In Kolkata
From：Taipei World Trade Center Liaison Office In Kolkata
Update Time：2022/05/13
Health-tech startup MediBuddy has raised $125 million in its Series C funding round from Quadria Capital and Lightrock India.Existing investors Bessemer Venture Partners, India Life Sciences Fund III, Rebright Partners, Jafco Asia, TeamFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures, and Alteria Capital, also participated in the round, the company said in a statement. MediBuddy raised $40 million in its Series B round over 2020 and early 2021 from investors such as India Life Sciences Fund III, TeamFund LP, and others.The digital healthcare platform will use the latest funding to invest in customer awareness, hiring, strengthening technology platforms including data science capabilities, clinical research, and product development, it said.
“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,” said Satish Kannan, cofounder and CEO, MediBuddy.Investment bank Avendus Capital was the exclusive advisor to MediBuddy for the transaction.
Founded in the year 2000, Medibuddy offers 24x7 access to specialist doctors via video calls, doorstep medicine delivery, at-home lab tests, mental health support, and other integrated healthcare services on its platform.According to the company, it has so far catered to the healthcare needs of over 30 million Indians on the back of its pan-India network of 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres, and 2,500 pharmacies that cover over 96% of pin codes.It is also one of the largest providers of employee health and wellness services and caters to over 700 corporates and more than 5 million employees including family members, it 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,” said Tejasvi Ravi, principal and healthcare lead, Lightrock India.