Hyderabad, January 24th, 2021: StanPlus, India’s leading emergency medical response company has raised $20 million in a massive Series A investment. The round was led by marquee investors, including Healthquad, Kalaari Capital, and HealthX Capital Singapore. Pegasus, Sandeep Singhal (Avaana) and Prashant Malik also participated alongside a cluth of angel investors.
The round also includes debt funding from N+1 capital. Additionally, the company raised $2 million from Grip Invest to be utilized for leasing ambulances.
Notably, this is the largest Series A funding raised in the healthcare sector. Overall, the capital infusion will be leveraged to scale up StanPlus’s operations to 500 hospitals, launch its flagship Red Ambulance brand in 15 cities from the current 5. The end goal is to bring the ambulance ETAs down to 8 minutes from the current 15 minutes by StanPlus and >40 mins on average by other ambulance service providers. Its hybrid fleet model allows for a quick scale up while maintaining world-class clinical standards.
The Emergency response industry in India is huge and valued at $15 billion. Addressing the gaps in the highly fragmented market, StanPlus has created the Red Health platform to allow large hospitals, employers, health-apps, wearables, cars and any other ecosystem player to enable plug-and-play medical response.
Speaking on the investment, Prabhdeep Singh – Founder & CEO, StanPlus, said, “In India, grocery is delivered in 10 minutes but ambulances take 45. At StanPlus, we are focusing on the 8-minute ambulance paradigm – I like to call it the ‘First Minute, Last Mile’ Healthcare. The capital will allow us to scale across India, bring amazing talent to work on this mission, and build world-first technologies!”
Charles- Antoine Janssen, CIO, HealthQuad said “With an inadequate and inefficient medical emergency response system (ERS) currently in India, our case fatality rates for road traffic accidents, cardiac and neurological emergencies remain significantly higher than those of the developed world, largely due to the lack of efficient retrieval systems during the “Golden Hour”. Stanplus has developed an innovative, tech-enabled platform to effectively address emergency responses and manage timely ambulance dispatches through its fleet of Red Ambulances, thus addressing the above deficiencies. We believe that this model could be rapidly scaled up across the country and has the potential to save millions of lives in the coming years. We are excited to back the company and look forward to supporting its objective of building quality ERS across India.”
Vani Kola, MD at Kalaaari Capital, said, “Over the last two years, we have witnessed first-hand the importance of efficient healthcare infrastructure in India. While there has been a lot of buzz around quick-commerce and 15-minute grocery delivery – Stanplus is one company making 15-minute emergency healthcare services a reality in India. We at Kalaari are humbled and proud to be a part of Stanplus very early on and are excited about the disruption StanPlus will bring to emergency healthcare.”
Veda Corporate Advisors was exclusive advisors to StanPlus and its shareholder in its Series-A equity investment.
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