PhleboIndia, a Gurugram-based start-up raises Rs 5 crore with a valuation of Rs 71. 45 crore; robust expansion plans underway

January 12, 2023 16:50 IST | ANI Press Release
Tennis player James Blake
The team behind the success of PhleboIndia: Dr Arpit Jayswal, Mukesh Jaiswal, Dr Alok Shah and Parth Jaiswal

New Delhi [India], January 12 (ANI/SRV): PhleboIndia, a Gurugram-based online aggregator platform for diagnostic laboratories, recently raised Rs 5 crore in a funding round in less than four months of operation due to its patient-centric business model. In their pre-seed round of funding, the unique health-tech start-up, founded in May 2022, was valued at Rs 71.45 crore. Over the last four months, PhleboIndia has touched the lives of over 25,000 patients through its user-friendly website and mobile application.

The health-tech start-up has the unique aim of democratising the lab diagnostics sector and the ambition to serve every patient in need. As a result, with its free home sample collection services in 60 minutes and decreased time and energy spent on the pricking process, it reduces the need to travel.

Behind the whopping valuation of the company stands the robust operations. Its final launch on September 1, 2022, garnered over Rs 1.5 crore in revenue, generated by a month-on-month growth of about 300%. Moreover, by 2023 alone, PhleboIndia is set to be operating in more than 30 cities. Driven by the zeal of its founder, Dr Arpit Jayswal, a renowned laparoscopic and general surgeon, the expanding lab test aggregator platform, with an employee strength of over 150, has over 1000 labs on board with PhleboIndia and is collecting around 750 samples daily.

About the milestone achieved by PhleboIndia, on an enthusiastic note, Dr Arpit Jayswal, the Founder and Chief Executive Officer (CEO) of PhleboIndia, said, "In our unique concept for the diagnostics industry, it is great to have investors show trust in our potential to scale up and take this unique concept to new heights." Moreover, the new valuation we stand at will take us a step closer to having a pan-India operation. Outlining the idea behind his initiative, the founder continued, "As a doctor, I strongly believe that it's my moral duty to provide an accurate diagnosis to the patient, with an aim to reach all corners of the country and make sure patients do not face any trouble due to a delay in their diagnostic tests in case of emergencies."

Dr Arpit Jayswal, who holds 10+ years of experience in the healthcare industry, dealt with numerous patients during the COVID-19 pandemic, where the importance of accurate diagnosis became a priority for all world-wide. He affirms, "This is a fresh concept for the diagnostics industry, where by leveraging technology we can provide time-bound and standardised doorstep services for blood sample collection with the intention of making it convenient for patients and the partnered labs."

As part of its long-term expansion plan, capitalising on its current growth rate, PhleboIndia has envisioned its presence in over 200 cities across India by 2025, including tier 1, 2, 3, and 4 cities. The initiative has the goal of serving over 10,000 patients per day in the next three years. Consequently, to realise this large-scale operation, the company is on its way to employing more than 2,000 phlebotomists in the next three years.

PhleboIndia is an online aggregator platform where patients can book their lab tests from any lab in their city. Providing time-bound and free home sample collection services in just 60 minutes, powered by the automated technology used by PhleboIndia. It has also introduced a no-cost EMI option on all lab tests, the first of its kind in India, empowering people from all socioeconomic backgrounds in terms of lab test expenses.

Book lab tests from any lab with free home sample collection from any location and at any time.

To know more, please visit: (https://www.phleboindia.com)

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This story has been provided by SRV. ANI will not be responsible in any way for the content in this article. (ANI/SRV)


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