Healthcare-startup Medulance secures $3 mn Series A funding
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Emergency healthcare provider Medulance on Tuesday announced it has secured $3 million (about Rs 25 crore) in Series A funding.
The funds, which come after running as a profitable bootstrapped company for six years, will be used to increase its presence across the country, with further reduction in emergency call answering time and emergency services response time in more than 500 cities in India, the company said.
The funding round led by Alkemi Growth Capital, also saw participation from marquee investors such as Dexter Capital, Aman Gupta, and Namita Thapar.
"This funding marks an important milestone for Medulance. With the support of our investors, we are poised to scale our operations and further elevate the standards of emergency healthcare across India," said Pranav Bajaj, Co-founder and CEO of Medulance.
The company currently has a fleet of up to 10,000 ambulances in more than 500 cities.
In the next 15-18 months, it plans to expand to over 1,000 cities in the country; and aims to establish public-private partnerships to extend its services to 3-4 more states in the coming years.
"Through this capital, Medulance would leverage the latest technology including 5G and smart remote monitoring via its smart ambulances to create a 360-degree ecosystem by partnering with corporates, governments, and insurance companies," said Ravjot Singh Arora, Co-Founder and COO of Medulance.
