Surgical care startup Pristyn Care raises $96 million from Tiger Global, Sequoia
Pristyn Carehas raised $96 million in funding at a valuation of $1.4 billion.
- Pristyn Care’s Series E round was led by Sequoia Capital, Tiger Global and others.
- It plans to increase its geographical footprint by expanding to over cities, and set up 1000+ surgical centres.
AdvertisementGurugram-based healthcare startup Pristyn Care, which offers affordable advanced surgical care, has raised $96 million in external funding at a valuation of $1.4 billion.
It is the second Indian healthtech company to enter the unicorn club, after Innovaccer that was valued at $1.3 billion in February 2021. A unicorn, in startup parlance, is a company valued at or over a billion dollars.
Business Insider last week reported that Pristyn Care had become the 42nd Indian unicorn.
Pristyn Care’s Series E round was led by Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures and Trifecta Capital. CRED’s Kunal Shah, Zomato’s Deepinder Goual, Urban Company’s Abhiraj Singh Bhal and Mamaearth’s Varun Alagh also participated in the round.
It will use the capital to enhance its offerings by adopting the latest surgical technologies, expanding into new disease categories, strengthening and modernizing partner-hospital infrastructure, training its surgeons and further developing its product and technology.
“We will continue to invest in newer, world-class surgical technology to ensure faster patient recovery, shorter hospital stay and the smoothest surgery experience possible for patients and their families,” Harsimarbir Singh, cofounder of Pristyn Care, added.
The Gurugram-based company also plans to increase its geographical footprint by expanding to over 50 cities, and set up 1000+ surgical centres. A part of the funding will also be used to double its team size and hire for technology roles.
The company has doubled its valuation since April 2021, when it raised $53 million in Series D round.
Pristyn Care was founded in 2018 by Harsimarbir Singh, Vaibhav Kapoor and Garima Sawhney. The company has partnered with 150 clinics and 700 hospitals across 40 cities to provide surgeries and treatment for proctology, urology, ENT, vascular, gynaecology and more.
The Gurugram-based company had reported a revenue of ₹25.78 crore in fiscal year 2020, with losses touching ₹33 crore. It has reported a profit of ₹2 lakh in FY2019 and revenue of ₹3.43 crore.
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