India's Largest Digital Healthcare Company MediBuddy Raises USD 125 Million in Series C Funding
PR94676
BANGALORE, India, Feb. 24, 2022 /PRNewswire=KYODO JBN/ --
- Largest funding round in the Digital Healthcare services space
MediBuddy, India's largest end-to-end digital healthcare platform, has
raised USD 125 million in Series C funding from Quadria Capital and Lightrock
India along with participation from 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.
MediBuddy provides its users with 24x7 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.
Having recently onboarded megastar Amitabh Bachchan as its official brand
ambassador, MediBuddy is ready to scale to new heights and make high-quality
healthcare more accessible to a billion Indians.
With the new round of funding, the comprehensive healthcare platform will
further invest in customer awareness, hiring, strengthening technology
platforms including data science capabilities, clinical research, and product
development.
Tejasvi Ravi, Principal & Healthcare lead, 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 2
and Tier 3 towns. The leadership team have a remarkable understanding of
consumer need and have scaled their reach and services to a leadership
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".
Dr Amit Varma, Managing Partner and Co-founder, Quadria Capital, said,
"Digital Healthcare is witnessing an 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".
Satish Kannan, Co-founder, and CEO, MediBuddy, said, "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".
The current population of India stands at about 1.38 billion, and access to
high-quality healthcare is the need of the hour. The primary e-health space in
India is still at its nascent stages with low penetration levels; the
Government of India has also acknowledged the same with a boost in the budget
to enable and support digital healthcare platforms.
Logo: https://mma.prnewswire.com/media/1753631/MediBuddy_Logo.jpg
Source: MediBuddy
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