Hyderabad-based emergency response platform RED.Health has raised $20 million in series B funding to improve its tech-backed platform and scale its operations to more cities and hospitals.
Led by Jungle Ventures, the funding round also included participation from HealthQuad, HealthX and Alteria Capital, with o3 Capital being the exclusive financial advisor to RED.Health in the just concluded fundaiser.
Formerly StanPlus, RED Health was founded in 2016 by Prabhdeep Singh to help address medical emergencies among Indian populations in Hyderabad. The organization partners with over 100 hospitals and 70 enterprises from 20 cities across six metros, including Mumbai, Chennai, New Delhi, Hyderabad, Kolkata, and Pune.
RED.Health operates a fleet of 450 managed ambulances, over 6,000 Saathi road ambulances, and 10 aircraft dedicated to offering emergency air services in densely populated metros.
The startup, which boasts a shorter emergency response time of about 8 minutes, plans to use the newly raised capital to scale its operations and optimize its platform’s performance to ensure seamless service delivery.
As reported by CNBC News on Wednesday, May 15, RED. Health will use a portion of the funding to extend its services to over 500 hospitals in over 40 cities and leverage the AI-powered auto-dispatch system to eliminate human errors that often lead to service delivery delays.
The company is also looking forward to introducing subscription-based services to ensure accessible medical support, eliminating complexities arising from pricing variations in the healthcare delivery market.
