Hyderabad-based medical emergency response startup, RED.Health has secured $20 million in a Series B funding round led by Jungle Ventures to revolutionize emergency services with its AI-backed triage system, enhanced ambulance services, and ambitious expansion plans.
The investment round also saw participation from existing and new investors such as HealthQuad, HealthX, and Alteria Capital. Notably, o3 Capital was the exclusive financial advisor for this significant fundraising effort. RED.Health will use the new funds to develop technology-driven solutions for the emergency value chain, including an auto-dispatch system to minimize human errors and optimize response times.
Their AI-backed triage system ensures accurate hospital selection and immediate vital sharing with first responders during medical emergencies. This innovation will support the startup’s expansion of services across India and the launch of new product lines. Currently, RED.Health operates in 20 cities, aiming to reach over 40 cities and partner with more than 500 hospitals.
Service Excellence and Growth
Founded in 2016, RED.Health, formerly known as StanPlus, offers multiple modes of emergency services and transportation, including emergency air ambulance services. The startup boasts a fleet of 450 managed ambulances, a network of 6,000 Sathi road ambulances, and 10 aircraft dedicated to air ambulance services. This comprehensive service network enables the company to dispatch ambulances within 8 minutes, a crucial factor in emergency response.
The newly raised funds will also support the company’s work on an artificial intelligence-powered recommendation engine to deliver prompt responses in medical situations. RED.Health collaborates with prominent hospital networks like Fortis and Apollo Hospitals, providing them with ambulances, staff, and technology. Additionally, the company serves corporate employers, offering ambulance services for employees and their dependents.
“Since our last fundraiser, we’ve made substantial strides in technology development, particularly refining our dispatch system to ensure seamless operations without delays or errors. With this round, we’re set to scale operations to become India’s only integrated medical emergency response platform,” said Prabhdeep Singh, founder and CEO of RED.Health.
Company Rebranding and Financial Goals
In January 2023, RED.Health underwent a significant rebranding, introducing four new verticals: RED Ambulances, RED Assist, RED Priority Clinics, and RED Academy. Shortly after, the company launched an air ambulance service in over 500 cities.
Currently, RED.Health operates across 20 locations, servicing over 100 hospitals. CEO Prabhdeep Singh expressed confidence in the company’s future, projecting a revenue increase to Rs 200 crore for FY25, following a reported INR 100 crore in revenue for the fiscal year ending March 2024.
“We envision that, in the long run, every Indian should be able to access emergency response with the click of a button.” We are pleased to collaborate with Red. Health to create the most trustworthy emergency platform and ecosystem in India, leveraging our extensive healthcare knowledge and network,” said Seemant Jauhari, Partner of Healthcare at Jungle Ventures.
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