In New Delhi, healthcare platform RED.Health announced on Wednesday that it has successfully secured $20 million in its Series B funding round, spearheaded by Jungle Ventures.
The infusion of fresh capital will be strategically allocated towards expanding services across more than 40 cities and introducing new product lines. Recognized for its ability to dispatch ambulances within eight minutes, the company aims to bolster its operational capabilities with this funding.
Participation in the funding round was not limited to Jungle Ventures; existing and new investors such as HealthQuad, HealthX, and Alteria Capital also contributed to the financing.
Prabhdeep Singh, the Founder and CEO of RED.Health, affirmed, “With this funding round, we are poised to amplify our operations, positioning ourselves as the leading integrated medical emergency response platform in India.”
Presently operational in 20 cities, the company is preparing to unveil a subscription-based model, promising swift and accessible medical assistance. Currently, RED.Health manages a fleet of 450 ambulances, supplemented by a network of 6,000 ‘Saathi’ road ambulances and 10 aircraft dedicated to air ambulance services.
Seemant Jauhari, Partner at Jungle Ventures, a Singapore-based venture capital firm, expressed their vision for the future, stating, “We envision a future where every Indian can access emergency response services with a simple click of a button.”
