Healthcare platform MediBuddy closes $40 million funding round

The firm raised the money in a Series B funding round

Digital healthcare platform MediBuddy on Tuesday announced the closure of its USD 40 million (over Rs 290 crore) Series B funding round.

The company had earlier said it had raised an initial funding of USD 20 million in June 2020 under this round, MediBuddy said in a statement.

"Series B round attracted new investments from India Life Sciences Fund III, LLC, TEAMFund LP, JAFCO Asia Fund, FinSight Ventures, ALES Global Japan and Beyond Next Ventures. Existing investors including Bessemer Venture Partners, Milliways Ventures and Rebright Partners also participated in the round", MediBuddy Co-Founder and CEO Satish Kannan said.

Potential of the MediBuddy has generated significant investor interest in the Series B round despite the uncertainty prevalent worldwide, he added.

"We are fortunate to have been a part of Satish's and Enba's journey from the very early days. We continue to be strong supporters as they execute towards their aim of enabling more Indians to have access to high-quality healthcare", Bessemer Venture Partners India Managing Director Vishal Gupta said.

India Life Sciences Fund III, LLC, Managing Director Devarajan TP said, "The fund is excited about partnering with MediBuddy and its dynamic leadership team with Satish and Enba at the helm".

MediBuddy's e-health platform enables customers access the entire gamut of healthcare services like tele-consultation services, lab tests or medicines, across devices, he added.