Healthtech startup Pristyn Care has raised $96 million in Series E round at a valuation of $1.4 billion, becoming the latest unicorn.
This round was led by Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures and Trifecta Capital along with angel investors including Kunal Shah, Deepinder Goyal, Abhiraj Singh Bhal and Varun Alagh.
It will utilise the capital to enhance its offerings by adopting the latest surgical technologies, expanding into new disease categories, strengthening and modernising partner-hospital infrastructure, training its surgeons and further developing its product and technology.
The Bengaluru-based company has scaled 5X since January 2021and expects to be profitable in the next 12-18 months, claims the company. At present, it operates via 150+ clinics and 700+ partner hospitals with a panel of 300+ experienced doctors.
By March 2022, it plans to increase its geographical footprint by expanding to 50+ cities and 1000+ surgical centres, said the company in a press statement. It also intends to double its team size.
Co-founder Harsimarbir (Harsh) Singh, said “Patient-care is at the core of our commitment to offer the highest quality secondary-care surgeries. We have built a rock-solid technology backbone that strengthens our patient-first initiatives - such as end-to-end support services during the entire process of surgery, billing transparency and at-home insurance claim processing - and ensure that patients are treated in the most comfortable manner. This round of funding is an acknowledgement of the trust our investor partners and our patients have in us.”
“With our expansion plans firmly in place and on track, we will accomplish our ambition of reaching 1000+ surgical centres and 5 million patient interactions by March 2022. We will continue to invest in newer, world-class surgical technology to ensure faster patient recovery, shorter hospital stay and the smoothest surgery experience possible for patients and their families,” he added.
This year, Indian startups have raised over $30 billion in 11 months of 2021 from investors. Further, there have been 40 unicorns from India this year compared to 26 unicorns in the entire decade prior.
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