MediBuddy, an India-based healthcare platform, has raised US$125 million in a series C funding round from Quadria Capital and Lightrock India.
MediBuddy co-founders Enbasekar D (left) and Satish Kannan. / Photo credit: MediBuddy
MediBuddy’s existing investors, Bessemer Venture Partners, India Life Sciences Fund III, Rebright Partners, Jafco Asia, TEAMFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures, and Alteria Capital, also participated in the round.
MediBuddy offers round-the-clock access to specialist doctors via video calls, doorstep medicine delivery, at-home lab tests, mental health support, and other integrated healthcare services.
The company has a pan-India network of 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centers, and 2,500 pharmacies that cover over 96% of postal codes in the country. It currently caters to over 700 corporates and 5 million employees, including family members. It also provides a healthcare subscription plan called MediBuddy Gold.
The platform has raised US$170 million in total so far.
With the new round of funding, the company will further invest in customer awareness, hiring, and strengthening its tech, including data science capabilities, clinical research, and product development. Avendus Capital was the exclusive financial advisor to MediBuddy on the transaction.
Editing by Collin Furtado and Arpit Nayak
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