Healthcare Startup Medulance Raises USD 3 Mn in Series A Led by Alkemi Growth Capital The Delhi-based platform aims to deploy the funds to increase its presence across the country while focusing on emergency management technology.
By Entrepreneur Staff •
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Healthcare service provider Medulance has secured USD 3 million in a Series A round led by Alkemi Growth Capital.
Dexter Capital, Aman Gupta, and Namita Thapar also took part in the investment round.
The company plans to utilise the funds to increase its presence across the country while focusing on emergency management technology.
Pranav Bajaj, Co-founder and CEO of Medulance, said, "After running a profitable bootstrapped company for 6 years, Medulance has raised a Series A round of USD 3 million. This funding marks an important milestone for Medulance. With the support of our investors, we are poised to scale our operations and further elevate the standards of emergency healthcare across India."
Alka Goel, Founder of Alkemi Growth Capital, added, "The infusion of capital into Medulance will enable it to expand its fleet, enhance its technology infrastructure, and improve its response times. This investment will also support the company in recruiting and training qualified medical professionals to ensure the highest standards of patient care."
Founded in 2017 by Pranav Bajaj and Ravjot Singh Arora, Medulance offers comprehensive solutions for corporate and public healthcare needs.
It recently unveiled a 5G-enabled 'Smart Medical Room' in Gurugram for corporate wellness by integrating advanced diagnostics and telemedicine.
Ravjot Singh Arora, Co-Founder and COO of Medulance, said, "Through this capital, Medulance would leverage the latest technology including 5G and smart remote monitoring via its smart ambulances to create a 360-degree ecosystem by partnering with corporates, governments, and insurance companies."
With a fleet of 10,000 ambulances and 1,000 health experts, Medulance aims to make emergency services accessible nationwide.
The firm intends to expand to over 1,000 cities in the next 15 to 18 months, with an emphasis on users in Tier II and III cities. In the upcoming years, it hopes to form public-private partnerships in order to expand its services to additional states.
It also seeks to further reduce emergency call answering time and emergency service response time in more than 500 cities in India.
