TLDR:
- Red.Health, a healthtech startup backed by Kalaari Capital, secures $20 million in Series B funding led by Jungle Ventures.
- The funding will be used to invest in developing technology-driven solutions for emergency response, expand presence, and introduce a subscription-based model.
Article Summary:
Red.Health, a healthtech startup based in Bengaluru, has successfully secured $20 million in Series B funding. The funding was a combination of equity and debt and was led by Singapore-based venture capital firm Jungle Ventures. Existing investors like Kalaari Capital, HealthQuad, HealthX, and Alteria Capital also participated in this round. This funding comes as a relief for Red.Health, which has faced financial challenges in the past year, resulting in layoffs and delays in salary payments.
Red.Health plans to use the fresh funds to invest in developing technology-driven solutions for the emergency value chain, such as an auto-dispatch system to optimize response time. The company’s AI-powered triage system helps in selecting the right hospital and sharing vital information with first responders. They also aim to expand their presence from 20 cities to 40 cities across India, partnering with over 500 hospitals and introducing new product lines. Additionally, Red.Health plans to introduce a subscription-based model to provide quick and accessible medical assistance.
In January 2022, Red.Health raised $20 million in Series A funding, which was recognized as the largest Series A funding in the healthcare sector at that time. With the new funding, the company is set to enhance its technology solutions and expand its reach in the Indian market.
This Series B funding round marks a significant milestone for Red.Health, allowing them to further strengthen their position in the healthtech industry and offer innovative emergency response solutions to a wider audience.
