India-based digital well being firm MediBuddy nabs $125M in Collection C funding

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Indian digital care firm MediBuddy introduced a $125 million Collection C funding spherical led by Quadria Capital and Lightrock India. 

Based in 2013, this brings the Bangalore, India-based firm’s whole elevate to simply over $191.1 million, in keeping with Crunchbase

Bessemer Enterprise Companions, India Life Sciences Fund III, Rebright Companions, JAFCO Asia, TEAMFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures, and Alteria Capital additionally participated within the funding spherical. 

WHAT THEY DO 

The tech-first well being firm gives quite a lot of providers together with around the clock entry to telehealth visits with docs and specialists. Its members can use the service for at-home lab assessments. In the course of the COVID-19 pandemic the service expanded to incorporate choose up of at-home RT-PCR assessments, in addition to offering COVID-19 vaccinations. The service additionally opened up a COVID-19 assist line and added a perform that may monitor the variety of beds for COVID-19 sufferers. 

The corporate runs on a membership mannequin and is at the moment working with over 700 employers throughout India. Its subscription, MediBuddy Gold, covers the first membership holder and their households. 

WHAT IT’S FOR 

The corporate plans to make use of the brand new funds to construct out its platform, particularly its knowledge science capabilities and medical analysis. This infusion of money may even assist the corporate to rent extra employees and proceed its product growth. 

“From the inception of MediBuddy, we’ve envisioned making high-quality healthcare simply accessible to a billion individuals within the nation,” Satish Kannan, Co-founder, and CEO, MediBuddy, mentioned in an announcement. “Digitisation of the healthcare business has helped individuals residing even in essentially the most distant components of the nation avail well timed medical care by professionals. With the most recent spherical of funding, we’ll capitalize on strengthening our community of healthcare service suppliers and our staff whereas launching new providers on the platform.”​

THE LARGER TREND 

Like many components of the world, telehealth has elevated in recognition in India for the reason that pandemic. In response to Statista, willingness to make use of telemedicine in India elevated throughout all age teams from pre-COVID-19 to post-COVID-19. 

A number of telehealth-focused corporations are working within the area. AkosMD Healthcare launched its sensible, automated retail clinic in India over the summer season. Moreover, in 2021 Lytus Applied sciences launched a telemedicine enterprise in India. 

New York-based supplier Memorial Sloan Kettering Most cancers Middle launched a department in India and introduced its plans to supply distant video and written consultations to most cancers sufferers. 



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