RED.Health raises $20M in Series B funding led by Jungle Ventures
The medical emergency response startup plans to use the funds to develop technology-driven solutions, expand services across India, and launch new product lines.
Hyderabad-based medical emergency response startup has raised $20 million in a Series B funding round led by Jungle Ventures.
The investment round also saw participation from existing and new investors including HealthQuad, HealthX and Alteria Capital.
o3 Capital acted as the exclusive financial advisor to RED.Health for the fundraise.
The company plans to use the funds to develop technology-driven solutions for the emergency value chain, including an auto-dispatch system to minimise human errors and optimise response time. Red.Health’s AI-backed triage allows for right hospital selection and immediate vital sharing with first responders during a medical emergency.
The funds will also support the startup's expansion of services across India and the launch of new product lines. Currently, RED.Health operates in 20 cities in the country. It plans to reach over 40 cities and partner with over 500 hospitals.
RED.Health, which is known for its ability to dispatch ambulances within 8 minutes, is set to introduce a subscription-based model that promises quick and accessible medical assistance and eliminates the complexities of pricing variations.
“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," said Prabhdeep Singh, Founder and CEO of RED.Health.
Founded in 2016, the startup (formerly known as StanPlus) offers multiple modes of emergency services and transportation, including emergency air ambulance. It has a fleet of 450 managed ambulances and a network of 6000 Sathi road ambulances and 10 aircraft dedicated to air ambulance services.
In January 2022, Stanplus raised $20 million in a Series A round led by HealthQuad, Kalaari Capital, and HealthX Capital.
Jungle Ventures is a Singapore-based venture capital firm focused on early to growth-stage companies in Southeast Asia and India.
(The copy was updated with a new image.)
Edited by Swetha Kannan