MediBuddy, has chalked out acquisition and expansion of its product offerings on its digital healthcare platform. To augment these plans the startup has raised an additional $18 million in funding from its existing investors—Quadria Capital, Lightrock, and TEAMFund.
The healthcare platform gets over 35,000 users on a daily basis, and has a presence in both corporate and retail segments apart from its present customer base of over three crore.
The fresh raised capital is aimed to accelerate in driving our strategic acquisition initiatives, further expanding our reach, and enhancing the depth and breadth of our services,” said MediBuddy Co-founder and CEO Satish Kannan.
MediBuddy offers online and offline doctor consultations, medicine delivery, lab tests at home, mental health consultations, and surgery care, among other healthcare services.
MediBuddy Achieves CAGR of 95.5%
The healthcare app provider’s growth trajectory has consistently achieved a Compound Annual Growth Rate (CAGR) of 95.5% over the past three years.
At the time of announcement the firm did not clarify whether the fresh fundraise is part of a new round or an extension of its Series C round.
The startup had last raised $125 million in February 2022 as part of the Series C round. MediBuddy cumulatively raised $166 million prior to the latest funding, as per data available on Tracxn. Founded in 2013 by Satish Kannan and Enbasekar Dinadayalane, MediBuddy has a partner network of 90,000 doctors, 7,100 hospitals and clinics, 4,000 diagnostic centres, and over 2,500 pharmacies.
Previously, the firm acquired two companies—Clinix recently including an online medical consultation platform focused on rural India, in July 2022 and US-based Aetna Inc’s vHealth in February 2023.
