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$20 Million Raised By Hyderabad-based Startup StanPlus
StanPlus, a Hyderabad-based emergency medical response company, has raised $20 million in a massive Series A investment.
G
Guru Prasad
Hyderabad
Mon Jan 24 2022
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$20 Million Raised By Hyderabad-based Startup StanPlus
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StanPlus, a Hyderabad-based emergency medical response company, has raised $20 million in a massive Series A investment. The round was led by marquee investors, including Kalaari Capital, Healthquad, and HealthX Capital Singapore. Pegasus, Prashant Malik, and Sandeep Singhal (Avaana) also participated alongside a clutch of angel investors.


Debt funding from N+1 capital is also included in this round. Additionally, the company raised $2 million from Grip Invest that will be utilized in leasing ambulances. The reports suggest that this is the biggest Series A funding raised in the healthcare sector. Overall, the capital infusion will be leveraged to scale up the startup's operations to 500 hospitals, launch its flagship Red Ambulance brand in 15 cities which is right now in five cities.


The end aim 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.


Founder, and CEO of StanPlus, Prabhdeep Singh, says that in our country, grocery is delivered in 10 minutes but an ambulance takes 45 minutes. At StanPlus, they are focusing on the 8-minute ambulance paradigm – Singh likes to call it the ‘First Minute, Last Mile’ Healthcare. He says that the capital will allow them to scale across the country, bring amazing talent to work on this mission, and build world-first technologies!


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$20 Million Raised By Hyderabad-based Startup StanPlus
$20 Million Raised By Hyderabad-based Startup StanPlus
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