RED.Health, India’s largest medical emergency response platform renowned for its ability to dispatch ambulances within 8 minutes, has raised $20M in its Series B funding. The new investment was led by Jungle Ventures and saw participation from existing and new investors including HealthQuad, HealthX, and Alteria Capital
The fresh funds will fuel RED.Health’s innovation pipeline allows for investments in developing technology-driven solutions for the emergency value chain, such as an auto-dispatch system that will minimize human errors and optimize response time. The company’s AI-powered triage allows for the right hospital selection and immediate vital sharing with the first responders. The company aims to deploy its state technology across hospitals and employers in India, on top of its full-stack response system.
A portion of the capital has also been earmarked for the expansion of its services across the country and the introduction of new product lines. Currently operating in 20 cities in India, RED.Health plans to reach over 40 cities and partner with 500+ hospitals. The company is set to introduce a subscription-based model that promises quick and accessible medical assistance, eliminating complexities of pricing variations that exist in the market.
Speaking about the fundraise, Prabhdeep Singh, Founder and CEO of RED.Health, said, “We are thrilled to welcome Jungle Ventures to our esteemed group of investors, and we extend our heartfelt gratitude to Alteria Capital, HealthQuad and HealthX for their continued support. The fact that we’ve received support from investors spanning different geographies reflects the conviction towards what we’ve been building over the past eight years. 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”.
Since founding in 2016, RED.Health has evolved beyond its core offering, expanding its technology & solution portfolio to encompass multiple modes of emergency scenarios & transportation, including air ambulance and road ambulance. While upholding its commitment to leveraging cutting-edge technology, delivering high-quality services, and employing highly skilled paramedics, the company now boasts an impressive fleet of 450 managed ambulances. Additionally, its extensive network comprises 6000 Saathi road ambulances and 10 aircraft dedicated to air ambulance services.
Seemant Jauhari, Partner, Healthcare, at Jungle Ventures commented on the round, said: “We are delighted to partner with RED.Health in creating a robust platform that ensures that our families get access to standardized, reliable and efficient emergency care. We believe in RED.Health’s vision to expand their services to 40+ cities in India, leveraging technology to enable the nearest ambulance to transport a patient safely to one’s hospital of choice. 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.”
Dr. Pinak Shrikhande, Managing Director at HealthQuad said: “Having been closely involved with RED.Health for some time now, we’ve witnessed the company’s remarkable evolution into a category leader in emergency care solutions leveraging differentiated tech innovations. The recent partnership with Jungle Ventures marks an exciting chapter in RED.Health’s journey, driving it towards accelerated growth. We’re confident that this collaboration will help the business chart a path to success that sets new standards in the healthcare industry.”
Punit Shah, Managing Partner at Alteria Capital commented on the round, said: “RED.Health is transforming India’s emergency response landscape with its high technology, full stack systems. We are excited to be partnering with the team as they build this important layer of healthcare infrastructure, and deliver value to hospitals, to help save lives”
Additionally, o3 Capital acted as the Exclusive Financial Advisor to RED.Health & its shareholder on the transaction.
