May 15, 2024: Emergency response startup RED.Health has secured $20 million in a Series B funding round led by Jungle Ventures to develop technology-driven solutions for the emergency value chain, that include an auto-dispatch system to reduce human errors and improve response time.
Red.Health’s AI-backed triage helps users to connect to the right hospital, and instantenous vital sharing with first responders during a medical emergency.
The fresh round of capital infusion will further accelerate startup’s plans to launch its of services and new product lines in newer Indian markets. Presently, RED.Health offers its services in 20 cities in the country. It has set an ambitious target to serve more than 40 cities and collaborate with over 500 hospitals.
RED.Health, which has gained credibility to dispatch ambulances within 8 minutes, will soon launch a subscription-based model that promises quick and accessible medical assistance and eliminates the complexities of pricing variations.
RED.Health chalks out strategy to become an integrated medical emergency response platform
“Since our last fundraise, we’ve made substantial strides in technology development, particularly in refining our dispatch system to ensure seamless operations without delays or errors. With this round, we’re set to scale operations in becoming the only integrated medical emergency response platform in India,” said Prabhdeep Singh, Founder and CEO of RED.Health.
Founded in 2016, the startup (formerly known as StanPlus) delivers multiple modes of emergency services and transportation, including emergency air ambulance. It has a fleet of 450 managed ambulances and a network of 6000 Sathi road ambulances and 10 aircraft dedicated to air ambulance services.
In January 2022, Stanplus raised $20 million in a Series A round led by HealthQuad, Kalaari Capital, and HealthX Capital. Jungle Ventures is a Singapore-based venture capital firm focused on early to growth-stage companies in Southeast Asia and India.
The latest round of investment also had investments from existing and new investors including HealthQuad, HealthX and Alteria Capital. o3 Capital acted as the exclusive financial advisor to RED.Health for the fundraise.
