HYDERABAD: Medical emergency response platform RED.Health, which offers ambulance dispatches within eight minutes, has raised $20 million (Rs 165 crore approx) via a Series B funding round led by Jungle Ventures.
The round also saw participation from existing and new investors such as HealthQuad, HealthX, and Alteria Capital.
The Hyderabad-based healthtech startup said it will be using the fresh funds for fueling its innovation pipeline. This would include investments in developing technology driven solutions for the emergency value chain such as an auto-dispatch system that will minimise human errors and optimise response time.
The startup said its AI-powered triage allows for the selection of the right hospital and immediate vitals sharing with the first responders. It is looking at deploying its technology across hospitals and employers in India atop its full-stack response system.
The company has also earmarked a portion of the funding for expanding its services across the country and for introducing new product lines.
RED.Health, which currently operates in 20 cities in India, plans to reach over 40 cities and partner with over 500 hospitals.
The company is also working on introducing a subscription-based model that promises quick and accessible medical assistance, eliminating complexities of pricing variations that exist in the market.
RED.Health founder & CEO Prabhdeep Singh said the latest round will help the company scale its operations to become the sole integrated medical emergency response platform in India.
Set up in 2016, RED.Health today operates a fleet of 450 managed ambulances and also has an extensive network of 6000 Saathi road ambulances and 10 aircraft dedicated to air ambulance services.
Jungle Ventures partner-healthcare Seemant Jauhari said it was partnering RED.Health in creating a robust platform that ensures families in India get access to standardised, reliable and efficient emergency careRepublished. Link to Original Article: https://timesofindia.indiatimes.com/business/india-business/red-health-raises-20m-via-series-b-round-led-by-jungle-ventures/articleshow/110154007.cms