A $3 million Series A funding round led by Alkemi Growth Capital has been secured by Medulance, an organization in the emergency healthcare services sector in India.
In a statement released on Tuesday, Medulance said that investors including Dexter Capital, Aman Gupta, and Namita Thapar took part in the funding round.
The company operated as a profitable bootstrapped business for six years prior to obtaining the funding.
The statement claims that the money will be utilized to expand its reach across the nation while emphasizing emergency management technology to address issues with providing services to a large number of people at once.
More than 500 Indian cities will see a further decrease in the time it takes to answer emergency calls and provide emergency services.
With a focus on Tier 2 and Tier 3 cities and consistent service quality across the board, Medulance hopes to have a significant impact in a country the size of India, where acute life-threatening diseases are also common.
Prioritizing patient safety and quality of care in every region, the firm intends to expand to over 1000 cities nationwide in the next 15 to 18 months.
The company’s future plans include forming public-private partnerships to expand its services into three or four more states.
“This funding marks an important milestone for Medulance. With the support of our investors, we are poised to scale our operations and further elevate the standards of emergency healthcare across India,” said Pranav Bajaj, Co-founder and Chief Executive Officer of Medulance.
The company has expanded to 10,000 ambulances, reaching 500+ cities throughout India, and slashed the emergency ambulance dispatch time from five to two minutes in the last six years, according to Medulance’s co-founder and chief operating officer, Ravjot Singh Arora.
“Medulance has also brought the response time in cities like Delhi from 45 minutes to 11 minutes,
“Through this capital, Medulance would leverage the latest technology including 5G and smart remote monitoring via its smart ambulances to create a 360-degree ecosystem by partnering with corporates, governments, and insurance companies,” he added.
We established Medulance in 2017. In addition to 5G smart medical clinics, the company provides healthcare solutions through stationed ambulances.
India’s first “Smart Medical Room” with 5G capabilities was unveiled by the company recently in Gurgaon.
The company hopes to increase access to emergency services across the country with a fleet of 10,000 ambulances and 1000 medical professionals.
