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MediBuddy raises USD125 mln in funding from Quadria Capital, Lightrock India

MediBuddy raises $125 mn in funding from Quadria Capital, Lightrock India

Funding News

MediBuddy raises USD125 mln in funding from Quadria Capital, Lightrock India

Online healthcare firm MediBuddy has raised $125 million in funding from Quadria Capital and Lightrock India, along with participation from existing investors. The latest funding round saw 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, the company said.

The Bengaluru-headquartered firm will utilise the funds to invest in customer awareness, hiring, strengthening technology platforms including data science capabilities, clinical research, and product development, it said in a release.

MediBuddy recently roped in actor Amitabh Bachchan as brand ambassador and it’s aiming to scale up operations in towns and cities. “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, co-founder and chief executive officer of MediBuddy.

The digital platform 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, Tejasvi Ravi, Principal & Healthcare lead, Lightrock India, said.

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, he added.

Also Read:_RetainIQ raises USD 2.3 million in seed funding round led by Accel Partners

MediBuddy provides its users with 24×7 access to specialist doctors via video calls, doorstep medicine delivery, at-home lab tests, mental health support, and other integrated healthcare services; all in one place. The platform has successfully catered to the healthcare needs of over 3 crore Indians, leveraging its unparalleled pan-India network of 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centers, and 2,500 pharmacies that cover over 96 per cent of PIN codes across the country.

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