This Startup Gets Rs 1500 Crore Funding To Provide Ambulance In 8 Minutes! Check Their Expansion Plans
It is a great time for startups in India. As India embarks upon the journey to become a $5 Trillion economy, startups are playing a huge role in it. They are not only solving some critical problems, they are also generating huge employments for the youth. Bolstered by technology, the startup ecosystem is not only solving problems but is also winning the confidence of investors.
One such startup which has gained the confidence of investors is Stanplus.
Stanplus raises $20 million in Series A investment
StanPlus is an emergency medical response company. It has raised $20 million in Series A investment. The round was led by marquee investors, including Healthquad, Kalaari Capital, and HealthX Capital Singapore.
Notably, Pegasus, Sandeep Singhal (Avaana), and Prashant Malik also participated alongside a clutch of angel investors. In this round, the company also received debt funding from N+1 capital. Along with that, the company raised $2 million from Grip Invest to be utilized for leasing ambulances.
The company aims to be faster than grocery delivery
The company is going to use the increased capital to scale up StanPlus’s operations to 500 hospitals and launch its flagship Red Ambulance brand in 15 cities from the current 5. The company is aiming to bring the ambulance ETAs down to 8 minutes from the current 15 minutes. It should be noted that the ETA is more than 40 minutes on average for other ambulance service providers.
Prabhdeep Singh, Founder & CEO, noted, “In India, grocery is delivered in 10 minutes but ambulances take 45. At StanPlus, we are focusing on the 8-minute ambulance paradigm – I like to call it the ‘First Minute, Last Mile’ Healthcare. The capital will allow us to scale across India, bring amazing talent to work on this mission, and build world-first technologies!”
The emergency response industry is worth $15 billion
According to estimates, the emergency response industry in India is huge and valued at $15 billion. By addressing the gaps in the highly fragmented market, StanPlus has created the Red Health platform to allow large hospitals, employers, health apps, wearables, cars, and any other ecosystem player to enable plug-and-play medical response.
Charles- Antoine Janssen, CIO, HealthQuad believes that their model could be rapidly scaled up across the country and has the potential to save millions of lives in the coming years.