Wednesday, May 22, 2024
HomeStart UpEmergency healthcare startup Medulance raises $3 million 

Emergency healthcare startup Medulance raises $3 million 

Emergency healthcare startup Medulance raised $3 million in Series A funding, with Alkemi Growth Capital leading the round. 

Other investors, including Dexter Capital, Boat founder Aman Gupta, and Namita Thapar, executive director at Emcure Pharmaceuticals, also participated in the funding round.

The New Delhi-based startup revealed that it has raised fresh capital after operating as a profitable bootstrapped company for six years. 

The newly acquired funds will be directed towards expanding its footprint across the country. Moreover, the company intends to enhance its emergency management technology to reduce emergency call answering time and service response time in more than 500 cities in India.

With a strategic focus on expansion into tier 2 and tier 3 cities, Medulance aims to extend its reach to over 1,000 cities within the next 15-18 months. Additionally, it plans to establish public-private partnerships to extend its services to an additional 3-4 states in the coming years.

Since its establishment in 2017, Medulance has expanded its fleet to 10,000 ambulances spread across more than 500 cities nationwide. According to Ravjot Singh Arora, the co-founder and chief operating officer, the company has significantly enhanced the dispatch time of emergency ambulances from 5 minutes to just 2 minutes.

“Through this capital, Medulance would leverage the latest technology including 5G and smart remote monitoring via its smart ambulances to create a 360-degree ecosystem by partnering with corporates, governments, and insurance companies,” Arora said. 

Arora and Pranav Bajaj, who serves as the CEO, co-founded the company. In February 2024, Medulance launched the Medulance Healthcare Academy, dedicated to training a paramedic workforce.

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BRL Editor
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