Hyderabad-based startup RED.Health has lately secured $20 million in Series B funding led by Jungle Ventures. It specializes in medical emergency response platform and is renowned for dispatching ambulances within eight minutes.
The other investors who have joined with the Jungle Ventures include HealthQuad, HealthX and Alteria Capital. The fresh capital highlights strong confidence of investors in the journey of RED.Health in emergency ambulance services.
The startup was founded in 2016 as StanPlus by Prabhdeep Singh. It presently operates a robust fleet of more than 6,000 ambulances. It has a collaboration with more than 100 hospitals and 70 enterprises across 20 cities in India. Its current operations include Mumbai, New Delhi, Chennai, Kolkata, Hyderabad and Pune. Its ambulance fleet comprises 450 managed ambulances, 6,000 Saathi road ambulances and 10 dedicated aircraft for emergency air services.
It is learned that a significant portion of the fresh investment will be used in fueling its ambitious expansion plan to target more than 40 cities and more than 500 hospitals in the country.
CEO Prabhdeep Singh emphasized the technological advancements of his company and particularly in refining the dispatch system to ensure seamless operations with minimal delays or errors.
He said that the funding will help them in scaling up the operations and simultaneously establish as India’s premier integrated medical emergency response platform.
Apart from the expansion, the startup also has plans to introduce a subscription-based model that will be designed to provide swift and accessible medical assistance. It will simplify the pricing structures to enhance user experience and accessibility.
It is said that the new model will address complexities associated with pricing variations in the current market and ultimately make emergency medical services more accessible as well as more reliable for all.
