MediBuddy raises $18mn in additional funding, to grow via acquisitions

Digital healthcare platform MediBuddy introduced that it has secured extra funding of $18 million from its present buyers Quadria Capital, Lightrock, and TEAMFund. This infusion of fairness capital will enable MediBuddy to develop and develop by strategic acquisitions.

In February 2022, MediBuddy raised $125 million throughout its Sequence C funding spherical. The current extra funding places MediBuddy ready to navigate the present panorama and obtain its bold development targets over the subsequent three years, mentioned the corporate in an announcement.

A considerable portion of those funds will probably be meticulously channelled into strategic acquisitions and fortifying its present choices.

Satish Kannan, co-founder and chief government officer of MediBuddy, mentioned, “MediBuddy’s development trajectory has constantly achieved a Compound Annual Progress Price (CAGR) of 95.5 per cent over the previous three years. The extra funds will probably be crucial in driving our strategic acquisition initiatives, additional increasing our attain, and enhancing the depth and breadth of our providers.”

This development has been fuelled by its presence in each Company and Retail domains. Two of MediBuddy’s current strategic acquisitions, reminiscent of Clinix, a web based medical session platform specializing in rural India, and US-based Aetna Inc’s vHealth by Aetna enterprise (Indian Well being Group Non-public Restricted), have additional amplified its presence within the healthcare area.

MediBuddy helps over 35,000 customers each day, and significant components embody quick access to a specialist physician inside 10 minutes. MediBuddy at present has an present buyer base of over 3 crore Indians. The corporate’s capacity to safe substantial funding and keep a balanced development trajectory is a testomony to its imaginative and prescient and operational excellence.

The digital healthcare platform has a companion community of over 90,000 docs throughout 22 specialities, 7,100 hospitals and clinics, over 4,000 diagnostic centres, and a couple of,500+ pharmacies together with a crew measurement of over 2,200 members.

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