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MediBuddy bags INR 25 crore funding in debt from InnoVen Capital

MediBuddy

Source: MediBuddy

MediBuddy is a Bengaluru-based digital healthcare start-up that has recently announced to have raised INR 25 crore funding in debt from Temasek backed and Mumbai-based InnoVen Capital.

MediBuddy is a health and technology start-up that provides corporate wellness benefits, outpatient services and inpatient hospitalisation as well. Founded back in the year 2000 by Satish Kannan and Enbasekar Dinadayalane.

It has not been long enough for MediBuddy to have just raised INR 290 crore funding in its latest Series B financing round led by India Life Sciences Fund III. Also, on February 2, 2021, the Bengaluru-based health technology company raised USD 40 million in its latest Series B funding round led by InvAscent, a Mauritius-based Private Equity Growth fund.

As mentioned in the company profile, MediBuddy is one of India’s largest digital healthcare platforms that enables users to have 24 x 7 access to high-quality healthcare. The start-up offers services such as booking a doctor’s appointment, consulting specialist doctors, booking lab tests and even ordering medicines to people sitting in the comfort of their homes. MeddiBuddy offers multiple healthcare and benefits through its diverse medical offerings.

The company claims to have an expanded user base of more than 9,000 doctors, 3000 diagnostic centres, about 7000 hospitals and 2,500 pharmacies across India in a majority of PIN Codes, according to a report by Business Standard.

Last Year in June, DocsApp- one of India’s leading online doctor consultation platforms merged with MediBuddy to provide the best-integrated customer experience with the vast variety of services from both health-tech start-ups.

During the past few months, when COVID-19 was at its peak in India, people refrained from stepping into the hospitals and clinics, even for regular check-ups which is a sensible decision during these days of the pandemic. However, with this option being closed, several health technology start-ups rose to popularity, providing multiple healthcare and wellness services including online doctor consultations, door-step medicine delivery and much more.

To date, MediBuddy has raised a total amount worth USD 60.3 million in just 3 financing rounds, according to the company profile on CrunchBase.

India seems to have a very high potential for technology-dominated healthcare services and in this past year, this potential was very much recognised by domestic as well as international investors that have thrown in an abundance of money into this sector. International investments into health and technology is currently the wisest investment decision investors can take because this industry is on the upscale and will boom in the coming future.

 

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