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