Red.Health secures $20 million Series B funding led by Jungle Ventures

Funding Alert

Hyderabad-based healthcare platform Red.Health has successfully closed a $20 million Series B funding round combining debt and equity, with Jungle Ventures leading the investment. This latest round marks a significant milestone for the company as it continues to expand its integrated emergency services across India.

The funding round, in which investors including Alteria Capital, HealthQuad and HealthX, with 80% of the amount raised in equity, will be critical to the development of Red.Health’s technological capabilities. The company plans to improve its dispatch system and develop innovative products, notably the use of artificial intelligence to power a referral engine for emergency medical services.

Since its inception in 2016, Red.Health has now raised a total of $43 million in seed to Series B rounds. With this fresh capital infusion, the company aims to expand its reach, partner with over 500 hospitals and expand its services to 40-50 cities throughout the country.

Speaking about the recent funding, Red.Health founder and CEO Prabhdeep Singh highlighted the company’s progress in refining its check-in system, which ensures seamless operations to meet the demands of emergency medical services.

Despite earlier reports of operational challenges, Singh clarified the company’s stance and confirmed that Red.Health remains committed to its growth trajectory. The company’s revenue figures reflect this ambition with revenue expected to double in the coming fiscal year based on the Rs 100 crore generated in FY24.

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