Pristyn Care becomes the 42nd startup to be valued over a billion dollars in India this year

  • Sequoia Capital and Tiger Global have invested about $85 million in the company.
  • Pristyn Care raised $53 million in April 2021, valuing the company at $550 million.
  • To provide surgery and therapy, the firm has partnered with 400 hospitals in 30 locations.

According to a source familiar with the development, Gurugram-based healthcare business Pristyn Care, which offers cheap sophisticated surgical care, is the latest startup to join the unicorn club. In startup jargon, a unicorn is a company worth more than a billion dollars.

Pristyn Care has received roughly $85 million in a Series E financing, according to regulatory documents. Sequoia Capital, Tiger Global, Hummingbird Opportunity Fund, and Amber Winter were among the notable investors in the round. It’s likely that this will be part of a larger investment round.

Entrackr has raised this capital at a post-money valuation of $1.3 billion, according to Entrackr’s estimations. However, according to the above-mentioned source, the valuation may differ.

In April 2021, Pristyn Care raised $53 million from Tiger Global at a $550 million valuation. The funds will be used to grow into new countries and surgical specialisations, according to the company.

In a previous news release, the company stated that it aims to perform 80,000 procedures and hire 200-300 new personnel this year.

Harsimarbir Singh, Vaibhav Kapoor, and Garima Sawhney created Pristyn Care in 2018. The organisation has worked with 400 hospitals in 30 locations to deliver proctology, urology, ENT, vascular, gynaecology, and other operations and treatments.

In fiscal year 2020, the Gurugram-based firm reported a revenue of Rs. 25.78 crore and losses of Rs. 33 crore. In FY2019, it had a profit of 2 lakh on revenue of 3.43 crore.

In 2020, the healthtech startup will have nearly 200 full-time doctors who will perform 20,000 procedures.

Pristyn Care is the 42nd business in India to reach a valuation of $1 billion and join the unicorn club in 2021. Social media site ShareChat, credit card payments platform CRED, merchant payments platform BharatPe, and on-demand service platform Urban Company are among the other unicorns.