Private equity news MediBuddy Raises Funds in Latest Investment Round

MediBuddy Raises Funds in Latest Investment Round

Digital healthcare platform MediBuddy has secured an additional $18 million in funding from its existing investors, Quadria Capital, Lightrock, and TEAMFund.

The Bengaluru-based startup had previously raised $125 million during its Series C funding round in February 2022. The current funding round will be used for strategic acquisitions and continued expansion.

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MediBuddy has been expanding its partnerships and network to provide a wider range of services to its customers.

The platform offers a range of services, including teleconsultations, medicine delivery, and health insurance. It has also been investing in technology and product development to improve the user experience and provide more personalized services.

The startup has been growing rapidly and has a customer base of over 10 million. With this new funding, MediBuddy plans to continue its growth and expand its services to more customers. The co-founders of the company are optimistic about the future and believe that there is a lot of potential for digital healthcare in India.

MediBuddy’s Series C Funding

MediBuddy, India’s largest digital healthcare platform, raised $125 million during its Series C funding round in February 2022. The funding was led by Quadria Capital and included participation from other investors such as Lightrock and TEAMFund.

The additional funding will put MediBuddy in a solid position to navigate the current landscape and achieve its ambitious growth targets over the next three years, driving strategic acquisitions and continued expansion. In August 2023, the Bengaluru-based startup announced that it had secured an additional $18 million from its existing investors to grow and expand through strategic acquisitions.

Satish Kannan, CEO of MediBuddy, stated that the funding would be used to further strengthen the company’s technology platform, expand its network of healthcare providers, and enhance its product offerings. He also expressed gratitude to the investors for their continued support and confidence in the company’s vision.

MediBuddy offers online and offline doctor consultations, medicine delivery, lab tests at home, mental health services, and more. The platform has over 20,000 healthcare providers and serves over 3 million users across India. With the Series C funding and additional funding, MediBuddy is well-positioned to continue its growth trajectory and revolutionize the healthcare industry in India.

Partnerships and Network

MediBuddy has built a robust network of healthcare service providers, including over 90,000 doctors, 7,000 hospitals, and 3,000 diagnostic centres, covering 96% of pin-codes in India. The platform also has a partner network of more than 2,500 pharmacies, making it one of the most comprehensive healthcare services platforms in India.

MediBuddy’s pan-India network of healthcare service providers enables users to access healthcare services from anywhere in the country. The platform also offers online and offline doctor consultations, lab tests at home, medicine delivery, mental health consultations, and surgery care, among other healthcare services.

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MediBuddy’s partner network includes some of the leading healthcare service providers in India, such as Clinix, which provides specialist doctors and healthcare services in tier 2 and tier 3 towns. The platform has also partnered with US-based Aetna Inc. to launch vHealth by Aetna, a telemedicine service that provides users with access to a network of specialist doctors and healthcare services.

MediBuddy has received funding from a number of leading investors, including Lightrock India, Bessemer Venture Partners, Rebright Partners, Jafco Asia, Finsight Ventures, Innoven Capital, Stride Ventures, Alteria Capital, and India Life Sciences Fund III. The platform has also received funding from TEAMFund LP, which has been one of its key investors since its early days.

MediBuddy’s network of healthcare service providers and partners has been a key factor in its success, enabling it to provide users with access to a wide range of healthcare services and specialists. The platform’s focus on building strong partnerships and networks has helped it to become one of the leading digital healthcare platforms in India.

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