Total amount raised
$3.2 Millions
Latest funding date
Location
Medulance has successfully raised $3 million in a Series A funding round, led by Alkemi Growth Capital. The company offers a GPS-based technology platform for fast and reliable first-point medical attention.
Keep reading to explore the intricacies of Medulance's fundraising journey and the investors backing this innovative platform.
What Is Medulance?
Medulance, founded on January 1, 2016, in New Delhi, India, is a GPS-based technology platform providing quick and reliable first-point medical assistance. The company was established by Pranav Bajaj, Prerit Mittal, and Ravjot Singh Arora.
Medulance manages ambulance fleets for hospitals and offers services to corporate, individual, hospital, and government sectors. Their offerings include GPS-enabled ambulance services, teleconsultation, e-pharmacy, diagnostics, home healthcare, and mental wellness sessions.
With a team of 11-50 employees, Medulance is dedicated to ensuring efficient and dependable medical support across multiple cities in India.
How Much Funding Has Medulance Raised?
- Seed Round
- Amount Raised: ₹20M (approximately $270,000)
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain initial capital for scaling operations and enhancing service offerings.
- Series A
- Amount Raised: $3M
- Date: April 2024
- Lead Investors: Alkemi Growth Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Medulance's reach across India, improve emergency management technology, and reduce emergency response times.
Total Amount Raised: $3.27M. Current Valuation: Not publicly disclosed.
Key Investors
- Alkemi Growth Capital
- Details: Alkemi Growth Capital is a growth-stage investment firm that led Medulance's Series A funding round. The firm is known for its focus on healthcare and wellness sectors.
- Investment Focus Areas: Healthcare, wellness, technology.
- Notable Investments: Not publicly disclosed.
- Dexter Capital Advisors
- Details: Dexter Capital Advisors is an investment firm that participated in Medulance's Series A funding round. The firm specializes in advisory and investment services for early to growth-stage companies.
- Investment Focus Areas: Technology, healthcare, early-stage startups.
- Notable Investments: Not publicly disclosed.
- Aman Gupta
- Details: Aman Gupta is the co-founder of boAt, a leading consumer electronics brand. He participated in Medulance's Series A funding round as an individual investor.
- Investment Focus Areas: Consumer electronics, technology startups, healthcare.
- Notable Investments: boAt.
- Namita Thapar
- Details: Namita Thapar is the Executive Director of Emcure Pharmaceuticals and participated in Medulance's Series A funding round. She is known for her investments in healthcare and entrepreneurial ventures.
- Investment Focus Areas: Healthcare, pharmaceuticals, startups.
- Notable Investments: Not publicly disclosed.
What's Next for Medulance?
Medulance is poised to seize significant opportunities by expanding its services to over 1,000 cities within the next 15-18 months. Leveraging 5G technology and smart remote monitoring, the company aims to enhance emergency response times and service quality, particularly in Tier 2 and Tier 3 cities. Public-private partnerships will be crucial in extending their reach to additional states, creating a comprehensive healthcare ecosystem.
Future fundraising rounds are likely as Medulance continues to scale and integrate advanced technologies. However, challenges such as maintaining service quality across diverse regions and navigating regulatory hurdles will need to be addressed. The company’s focus on training through the Medulance Healthcare Academy will be vital in overcoming these obstacles.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Medulance and gather other critical business insights. Sign up for free and elevate your sales strategy with the power of detailed, actionable information.
