RED.Health Snags $20 Mn To Build Subscription-Based Model

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SUMMARY

The startup bagged a fresh funding of $20 Mn in its Series B funding round led by Jungle Ventures and saw participation from existing and new investors including HealthQuad, HealthX, and Alteria Capital

Erstwhile known as StanPlus, the Prabhdeep Singh-led startup provide users emergency medical assistance, like ambulance services and telemedicines, within 8 minutes

With the funding, it plans to expand its reach to over 40 cities and partner with 500 hospitals shortly

Medical emergency response startup RED.Health has raised $20 Mn in its Series B funding round led by Jungle Ventures, along with participation from existing and new investors, including HealthQuad, HealthX and Alteria Capital.

The startup plans to deploy the fresh capital to bolster its tech offerings like auto-dispatch system, AI-powered hospital selection tool and immediate vital sharing with first responders. It also plans to improve its tech across hospitals and employers in India, on top of its full-stack response system. 

Founded in 2016 by Prabhdeep Singh, RED.Health claims to provide users emergency medical assistance, like ambulance services and telemedicines, within 8 minutes. It offers comprehensive healthcare services with RED Priority Clinic, emergency response training via RED Academy, air ambulances, road ambulances, along with telemedicines via RED Assist. 

Besides managing a fleet of 450 road ambulances, it also operates 10 aircraft dedicated to air ambulance services and 6,000 Saathi road ambulances. On the back of its strong ambulance fleet, it has also forged partnerships with over 70 enterprises to manage their medical response system.

“Since our last fundraise, we’ve made substantial strides in technology development, particularly in refining our dispatch system to ensure seamless operations without delays or errors. With this round, we’re set to scale operations in becoming the only integrated medical emergency response platform in India,” Singh said. 

The startup also says that it has partnered with over 300 hospital chains in about 20 Indian cities. With the funding, RED.Health plans to expand its reach to over 40 cities and partner with 500 hospitals shortly. Further, it is also looking to launch a subscription-based model that promises quick and accessible medical assistance, eliminating complexities of pricing variations that exist in the market.

The startup rebranded itself from StanPlus in January 2023. Prior to that, the startup raised 20 Mn in debt and equity as a part of its Series A funding round from Healthquad, Kalaari Capital, and HealthX Singapore in 2022.

The development comes less than a year after Jungle Ventures merged with healthech investor HealthXCapital (HXC). At that time, the venture capitalist firm said that the HXC team will lead Jungle Ventures’ healthcare investments in India and Southeast Asia. 

“We foresee that in the long term, every Indian should be able to access emergency response via just a click of a button. Leveraging our deep healthcare experience and network, we are excited to partner with RED.Health to build the most reliable emergency platform and ecosystem in  India,” Jungle Ventures’ partner- healthcare Seemant Jauhari said.




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RED.Health Snags $20 Mn To Build Subscription-Based Model

SUMMARY

The startup bagged a fresh funding of $20 Mn in its Series B funding round led by Jungle Ventures and saw participation from existing and new investors including HealthQuad, HealthX, and Alteria Capital

Erstwhile known as StanPlus, the Prabhdeep Singh-led startup provide users emergency medical assistance, like ambulance services and telemedicines, within 8 minutes

With the funding, it plans to expand its reach to over 40 cities and partner with 500 hospitals shortly

Medical emergency response startup RED.Health has raised $20 Mn in its Series B funding round led by Jungle Ventures, along with participation from existing and new investors, including HealthQuad, HealthX and Alteria Capital.

The startup plans to deploy the fresh capital to bolster its tech offerings like auto-dispatch system, AI-powered hospital selection tool and immediate vital sharing with first responders. It also plans to improve its tech across hospitals and employers in India, on top of its full-stack response system. 

Founded in 2016 by Prabhdeep Singh, RED.Health claims to provide users emergency medical assistance, like ambulance services and telemedicines, within 8 minutes. It offers comprehensive healthcare services with RED Priority Clinic, emergency response training via RED Academy, air ambulances, road ambulances, along with telemedicines via RED Assist. 

Besides managing a fleet of 450 road ambulances, it also operates 10 aircraft dedicated to air ambulance services and 6,000 Saathi road ambulances. On the back of its strong ambulance fleet, it has also forged partnerships with over 70 enterprises to manage their medical response system.

“Since our last fundraise, we’ve made substantial strides in technology development, particularly in refining our dispatch system to ensure seamless operations without delays or errors. With this round, we’re set to scale operations in becoming the only integrated medical emergency response platform in India,” Singh said. 

The startup also says that it has partnered with over 300 hospital chains in about 20 Indian cities. With the funding, RED.Health plans to expand its reach to over 40 cities and partner with 500 hospitals shortly. Further, it is also looking to launch a subscription-based model that promises quick and accessible medical assistance, eliminating complexities of pricing variations that exist in the market.

The startup rebranded itself from StanPlus in January 2023. Prior to that, the startup raised 20 Mn in debt and equity as a part of its Series A funding round from Healthquad, Kalaari Capital, and HealthX Singapore in 2022.

The development comes less than a year after Jungle Ventures merged with healthech investor HealthXCapital (HXC). At that time, the venture capitalist firm said that the HXC team will lead Jungle Ventures’ healthcare investments in India and Southeast Asia. 

“We foresee that in the long term, every Indian should be able to access emergency response via just a click of a button. Leveraging our deep healthcare experience and network, we are excited to partner with RED.Health to build the most reliable emergency platform and ecosystem in  India,” Jungle Ventures’ partner- healthcare Seemant Jauhari said.




Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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