Digital Healthcare Platform MediBuddy Raises USD 125 Million Funding

Digital healthcare platform MediBuddy on Tuesday said it has raised USD 125 million in funding from Quadria Capital and Lightrock India along with participation from existing investors including Bessemer Venture Partners and India Life Sciences Fund III.

The other existing investors in the Series C round included Rebright Partners, JAFCO Asia, TEAMFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures, and Alteria Capital. With the new round of funding, the comprehensive healthcare platform will further invest in customer awareness, hiring, strengthening technology platforms including data science capabilities, clinical research, and product development, MediBuddy said in a statement.

"With the latest round of funding, we will capitalise on strengthening our network of healthcare service providers and our team, while launching new services on the platform. As always, we will continue to be at the forefront of the digital transformation of India's healthcare industry," Satish Kannan, Co-founder, and CEO, MediBuddy stated.

The digital platform is playing a critical role in organising primary healthcare services, improving quality and convenience even as it expands access across India including Tier 2 and Tier 3 towns, Tejasvi Ravi, Principal & Healthcare lead, Lightrock India, said.

MediBuddy's care-platform provides seamlessly integrated care that is leading the way in increasing uptake of primary healthcare and helping millions of customers stay healthy, he added. MediBuddy provides its users with 24x7 access to specialist doctors via video calls, doorstep medicine delivery, at-home lab tests, mental health support, and other integrated healthcare services; all in one place.

The platform has successfully catered to the healthcare needs of over 3 crore Indians, leveraging its unparalleled pan-India network of 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centers, and 2,500 pharmacies that cover over 96 per cent of PIN codes across the country.

(PTI)