Digital healthcare platforms have seen a phenomenal rise ever since the spread of COVID-19 pandemic worldwide. Recently, MediBuddy- a Bengaluru based digital healthcare application- has announced raising USD 40 million funding in Series B round.
It has been reported that the novel move would enable the platform to make use of these funds to further bolster its hospital and doctor base, product, technology, patient reach, and brand to move a step closer to its aim of delivering high-quality healthcare to a billion people worldwide.
It has been claimed that the Series B funding round follows MediBuddy’s recent infusion of USD 20 million led by India Life Sciences Fund III, along with the participation from other investors. Moreover, the COVID-19 has unprecedentedly accelerated digital healthcare adoption and platform growth which eventually led the team to think of procuring $40 million funds.
Commenting on the recent accomplishment, Co-Founder and CEO at MediBuddy, Satish Kannan mentioned that the team at MediBuddy strives to make high-quality healthcare accessible to every Indian across the length and breadth of the country.
The platform provides consultation to more patients than any leading offline hospital chain. He added that the company is proud to announce that over 50% of the platform users hail from the non-urban areas of India.
Furthermore, while stating the contribution of investing partners in the Series B funding round, Mr. Kannan stated that the potential of MediBuddy has generated massive investor interest in the round despite the uncertainty currently prevailing in the world, helping it secure the highest funding in the digital healthcare arena since the start of the pandemic.
And in this regard, Vishal Gupta, MD at Bessemer Venture Partners India, quoted that the firm is fortunate enough to be a part of MediBuddy’s journey from the very early days. The financial team continues to be a strong supporter of the company as they move towards their mission of enabling more Indians to have access to brilliant healthcare services, digitally.
Source Credit: https://www.entrepreneur.com/article/364653