You are here: Home » PTI Stories » National » News
Business Standard

MediBuddy raises Rs 25 crore debt fund from InnoVen Capital

Digital healthcare platform MediBuddy has raised Rs 25 crore debt fund from InnoVen Capital

Topics
Healthcare sector | fund raising

Press Trust of India  |  New Delhi 

doctors, telemedicine, video, patients, technology
Representational image

Digital healthcare platform MediBuddy has raised Rs 25 crore debt fund from InnoVen Capital, the venture debt firm said on Tuesday.

MediBuddy recently closed around Rs 290 crore Series B round which was led by India Life Sciences Fund III, LLC.

"We have been an active investor in the Healthcare space and believe that tech first, AI-driven platforms like MediBuddy are well-positioned to disrupt the market, and we are delighted to back them in their vision to make quality healthcare accessible for all," InnoVen Capital India Chief Executive Officer (CEO) Ashish Sharma said in a statement.

MediBuddy claims to have a network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres and 2,500 pharmacies, covering over 95 per cent of all PIN codes.

"We are delighted to enhance our partnership with InnoVen Capital, which has been a partner with us for several years. It makes me immensely proud to say that we now have the most comprehensive network to serve consumers and enterprise clients alike.

"With our recent equity funding as well as venture debt raise, the company is well-capitalised to execute an ambitious growth agenda," MediBuddy co-founder and CEO Satish Kannan said.

In June 2020, to create market leadership in the digital healthcare industry, DocsApp (India's leading online doctor consultation platform) merged with MediBuddy.

Going forward, both MediBuddy and DocsApp will operate under a single brand name -- MediBuddy.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, February 16 2021. 19:41 IST
RECOMMENDED FOR YOU