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MediBuddy secures Rs 148 crore funding to drive strategic acquisitions, continued expansion
Karnataka: MediBuddy, India's digital healthcare platform, secures additional funding of $18 million, reaffirming unwavering support from the existing investors Quadria Capital, Lightrock, and TEAMFund.
In February 2022, MediBuddy raised an impressive $125 million during the Series C funding.
"The recent additional funding puts MediBuddy in a solid position to navigate the current landscape and achieve its ambitious growth targets over the next three years. A formidable portion of these funds shall be meticulously channelled into strategic acquisitions and fortifying its existing offerings, synergistically harmonising with MediBuddy's visionary trajectory and enabling exponential growth," the release stated.
Mr. Satish Kannan, Co-Founder and CEO of MediBuddy, said, " Our continued partnership with all our investors has been instrumental in MediBuddy's growth and is helping us solve India's healthcare needs. MediBuddy's growth trajectory has consistently achieved a Compound Annual Growth Rate (CAGR) of 95.5% over the past three years. The additional funds will be critical in driving our strategic acquisition initiatives, further expanding our reach, and enhancing the depth and breadth of our services. At MediBuddy, our constant endeavour has been to make high quality healthcare accessible to a billion people. This move further solidifies our stance as a market leader in the digital healthcare landscape."
This growth has been fuelled by its presence in both Corporate and Retail domains.
Read also: MediBuddy launches Surgery Care, expands Digital Healthcare Services portfolio
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751