Ambulance service provider and healthcare Platform Red.Health has raised $20 million in a series B round led by Jungle Ventures. This Hyderabad-based startup also got investments from Alteria Captial and its existing investors HealthQuad and HealthX. They have previously secured the same amount of $20 million during its series A round. The round was led by HealthQuad, Kalaari Capital, and HeathX in 2022. Red. Health was formerly known as Stanplus and is among India’s top 10 ambulance services. Here, we are talking about RED.HEALTH, an Ambulance Startup, Raised $20 Million in a Series B Round Led by Jungle Ventures.
With funding from the series B round, the startup has raised $43 million since its inception in 2016. According to a report by Entrackr, the startup will use this fund to further enhance its resources, advance its technologies, innovate its product, and improve its dispatch system. Last year, the startup rebranded itself completely and launched air ambulance services in 500+ hospitals. Their new model includes RED ambulance, RED assist, RED academy, and RED priority clinics. RED Ambulance Services offers various services, including emergency medical transportation, patient transport, and disaster relief. This service provides a rapid call response time of 5 seconds to send over 3,000 ambulances.
This startup competes with MeduLance, HelpNow, Eshai, Mo Ambulance, and more. The founder and CEO of Red.health said they will use funds earned from the Series B round to scale up operations and become India’s first integrated medical emergency response platform. The startup is operating in 20 cities and will soon introduce a subscription-based model that allows quick medical assistance during emergencies. The partner of Singapore-based Jungle Ventures, Seemant Jauhari, said, “In the future, every Indian will be able to access emergency response via a simple click button.”
The startup will use the fresh funds to expand its services across 40 cities and launch its new product lines. Some reports from Mint mentioned the startup is facing challenges in scaling and paying its staff. Despite challenges in scaling and staff payments, Red.Health mentioned that they reported Rs 100 crore revenue in FY24, aiming to grow twice more in FY25. Competing with other startups like MeduLance, HelpNow, Eshai, and Mo Ambulance, Red.health aims to scale up operations and become India’s first integrated medical emergency response platform.
Conclusion
Red.health is an ambulance startup founded by Prabhdeep Singh in 2016. This Hyderabad-based startup also got investments from Alteria Captial and its existing investors HealthQuad and HealthX. The startup will use funds from the Series B round to scale up operations and become India’s first integrated medical emergency response platform.
Last year, the startup rebranded itself completely and launched air ambulance services in 500+ hospitals. Their comprehensive service model includes RED ambulance, RED assist, RED academy, and RED priority clinics, offering a range of emergency and non-emergency medical transportation services. The startup will use funds from the Series B round to scale up operations and become India’s first integrated medical emergency response platform.
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