Omnichannel diagnostics platform Redcliffe Lifetech raises $61 million
May 6, 2022, 10:51 IST
Leading omnichannel diagnostics platform Redcliffe Lifetech on Friday said it has raised $61 million led by LeapFrog Investments, and will expand its reach into tier 2, 3 and 4 cities across the country.
The new funds will also be utilised to scale its platform and increase its product offerings to radiology, disease data profiling and lifestyle management, the company said in a statement.
"Preventative medicine is the future of health in India. This investment will help us scale rapidly to achieve our goal to reach 500 million Indians within the next five years," said Dheeraj Jain, Founder of Redcliffe Lifetech.
The latest funding round saw participation from Healthquad, Schroders, LC Nueva, Growth Spark Ventures and existing investors Chiratae Ventures and Alkemi Venture Partners.
"Redcliffe is an exemplar of LeapFrog's focus on digital-led and asset-light business models that enable access to essential healthcare services to emerging consumers," said Biju Mohandas, Partner and Global Co-Leader for Health Investments at LeapFrog Investments.
Redcliffe delivers diagnostics services in its network of22 labs across 14 cities, several of which are already NABL accredited.
Its omni-channel infrastructure combines innovative online channels with a fleet of 400 phlebotomists operating in more than 100 cities with home sample collection and an off-line network of 500 collection centres.
SEE ALSO
New-age startups Zomato, PolicyBazaar, Nykaa and Paytm witness sharp corrections, market cap craters by over ₹6,000 crore
RIL, TVS Motor, Voltas among stocks to watch out for on May 6
Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts
Advertisement
The new funds will also be utilised to scale its platform and increase its product offerings to radiology, disease data profiling and lifestyle management, the company said in a statement.
"Preventative medicine is the future of health in India. This investment will help us scale rapidly to achieve our goal to reach 500 million Indians within the next five years," said Dheeraj Jain, Founder of Redcliffe Lifetech.
The latest funding round saw participation from Healthquad, Schroders, LC Nueva, Growth Spark Ventures and existing investors Chiratae Ventures and Alkemi Venture Partners.
"Redcliffe is an exemplar of LeapFrog's focus on digital-led and asset-light business models that enable access to essential healthcare services to emerging consumers," said Biju Mohandas, Partner and Global Co-Leader for Health Investments at LeapFrog Investments.
Advertisement
Its omni-channel infrastructure combines innovative online channels with a fleet of 400 phlebotomists operating in more than 100 cities with home sample collection and an off-line network of 500 collection centres.
SEE ALSO
New-age startups Zomato, PolicyBazaar, Nykaa and Paytm witness sharp corrections, market cap craters by over ₹6,000 crore
RIL, TVS Motor, Voltas among stocks to watch out for on May 6
Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts