IANS | 15 May, 2024
Healthcare platform RED.Health on Wednesday said it has raised $20 million in its Series B funding led by Jungle Ventures.
The fresh funds will be utilised in the expansion of services
across more than 40 cities and the launch of new product lines, said the
company that is known for its ability to dispatch ambulances within
eight minutes.
The funding round also saw participation from existing and new investors including HealthQuad, HealthX, and Alteria Capital.
"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.
Currently operating in 20
cities, the company is set to introduce a subscription-based model that
promises quick and accessible medical assistance. The company now has
450 managed ambulances.
Additionally, its network comprises 6,000 ‘Saathi’ road ambulances and 10 aircraft for air ambulance services.
“We
foresee that in the long term, every Indian should be able to access
emergency response via just a click of a button,” said Seemant Jauhari,
Partner, Healthcare, at Jungle Ventures which is a Singapore-based
venture capital firm.
