Health Tech Startup Orange Health Raises $25 Million in Series-B Funding Round
The funds raised will be deployed towards deeper investment in product development as well as technology across systems, user experience and building world-class laboratories
Health Tech startup Orange Health has raised $25 million in a Series B funding round. The round was led by Bertelsmann India Investments and co-led by General Catalyst. The round also witnessed participation from existing investors like Accel, Y Combinator, Good Capital and Uncorrelated Ventures.
The company, which was set in December 2020, is currently looking to set up India's fastest diagnostic lab service.
The funds raised will be deployed towards deeper investment in product development as well as technology across systems, user experience and building world-class laboratories.
Launched in Dec 2020 by Dhruv Gupta and Tarun Bhambra, Orange Health has since provided diagnostic testing services to over 1 million customers across Bengaluru and Delhi-National Capital Region (NCR).
Orange Health has built its business by providing customers a wide range of diagnostic tests at home in just 60 minutes, from 6 am to 10 pm, 7 days a week. Further, the company also delivers reports from NABL accredited labs in just 6 hours for Blood tests and 9 hours for COVID-19 test after the sample is taken. A person can register on the app for a test by filling out their personal details on an order form and then select a time slot suitable for them.
"Our focus has always been on speed & reliability because every caregiver innately knows that adopting urgency is the best way to show care in healthcare. As a result, we have an NPS of 80+. With the new round of investments, we are excited to broaden our horizons and reach out to more Indians," Dhruv Gupta and Tarun Bhambra, Co-Founders, Orange Health, said
The funds raised will be deployed towards deeper investment in product development as well as technology across systems, user experience and building world-class laboratories. The company also plans to expand to new markets and strengthen its teams across all functions.
Commenting on the investment, Pankaj Makkar, Managing Director, Bertelsmann India Investments, shared, "With the vision to make healthcare accessible and affordable, Orange Health is bridging the gap between online and offline worlds with the latest consumer tech experience and delivering high-quality healthcare. We are elated to partner with them as today marks the beginning of our commitment to the health tech sector. We aim to partner with more health-tech entrepreneurs disrupting the healthcare sector with an innovation-led approach."