Healthcare Platform RED.Health Secures $20 Mn Led By Jungle Ventures

5/15/2024 1:15:20 AM

(MENAFN- IANS) New Delhi, May 15 (IANS) Healthcare platform RED on Wednesday said it has raised $20 million in its Series B funding led by Jungle Ventures.

The fresh funds will be utilised in the expansion of services across more than 40 cities and the launch of new product lines, said the company that is known for its ability to dispatch ambulances within eight minutes.

The funding round also saw participation from existing and new investors including HealthQuad, HealthX, and Alteria Capital.

"With this round, we're set to scale operations in becoming the only integrated medical emergency response platform in India,” said Prabhdeep Singh, Founder and CEO of RED.

Currently operating in 20 cities, the company is set to introduce a subscription-based model that promises quick and accessible medical assistance. The company now has 450 managed ambulances.

Additionally, its network comprises 6,000 'Saathi' road ambulances and 10 aircraft for air ambulance services.

“We foresee that in the long term, every Indian should be able to access emergency response via just a click of a button,” said Seemant Jauhari, Partner, Healthcare, at Jungle Ventures which is a Singapore-based venture capital firm.

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