Stride Ventures leads Rs 25 crore debt round in MediBuddy

MediBuddy will utilise the funding in further strengthening its technology, operations and marketing to move a step closer to its mission of providing high-quality healthcare to a billion people, Stride Ventures said in a statement.

The digital healthcare platform helps its users consult specialist doctors, order medicines and book lab tests online.

At present, it has a partner network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres and 2,500 pharmacies covering 95 per cent of PIN codes in India, the statement said.

Commenting on the funding, Stride Ventures Founder and Managing Partner Ishpreet Gandhi said the need for remote examining and monitoring of patients, and contactless technology all over India, is more imperative than ever.

"We are pleased to see how MediBuddy has leveraged technology to scale up rapidly with a clear vision to evolve health tech in India. We are excited to partner with them in their journey, as they look to enhance their offerings and leverage their market leadership to increase adoption across the country," Gandhi added.

MediBuddy co-founder and CEO Satish Kannan said tele-medicine is growing at a monumental pace in India and the pandemic has only further amplified the importance of going digital.

"We are excited to have Stride Ventures along on this journey. At MediBuddy, we strive towards making high-quality healthcare accessible to Indians across the length & breadth of the country," Kannan added.

Stride Ventures said it had recently launched its second venture debt fund with a target corpus of over Rs 1,000 crore and will continue to invest in early to late-stage startups across sectors.

Read also: MediBuddy raises Rs 145 crore funding from India Life Sciences Fund III, others