Healthcare platform MediBuddy closes $40 million funding round

Representational image

Digital healthcare platform MediBuddy on Tuesday announced the closure of its USD 40 million (over Rs 290 crore) Series B funding round.

The company had earlier said it had raised an initial funding of USD 20 million in June 2020 under this round, MediBuddy said in a statement.

"Series B round attracted new investments from India Life Sciences Fund III, LLC, TEAMFund LP, JAFCO Asia Fund, FinSight Ventures, ALES Global Japan and Beyond Next Ventures. Existing investors including Bessemer Venture Partners, Milliways Ventures and Rebright Partners also participated in the round", MediBuddy Co-Founder and CEO Satish Kannan said.

Potential of the MediBuddy has generated significant investor interest in the Series B round despite the uncertainty prevalent worldwide, he added.

"We are fortunate to have been a part of Satish's and Enba's journey from the very early days. We continue to be strong supporters as they execute towards their aim of enabling more Indians to have access to high-quality healthcare", Bessemer Venture Partners India Managing Director Vishal Gupta said.

India Life Sciences Fund III, LLC, Managing Director Devarajan TP said, "The fund is excited about partnering with MediBuddy and its dynamic leadership team with Satish and Enba at the helm".

MediBuddy's e-health platform enables customers access the entire gamut of healthcare services like tele-consultation services, lab tests or medicines, across devices, he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel