Pristyn Care, a healthcare unicorn, experienced a robust 45% growth in revenue, reaching Rs 453 crore in FY23. However, its losses also expanded by 38.2% to Rs 383 crore during the last fiscal year.
Backed by Tiger Global, the firm witnessed a surge in operating income, climbing from Rs 313 crore in FY22 to Rs 453 crore in FY23, as disclosed in its financial statements from the Registrar of Companies (RoC).
A significant portion of the total operating revenue, constituting 75%, was generated from healthcare services, amounting to Rs 338 crore. The remaining income was derived from the sale of medical health products and advertising services in the preceding fiscal year, as reported by Entrackr.
In December 2021, Pristyn Care successfully raised $96 million in its Series E round, doubling its valuation within seven months to $1.4 billion. This achievement solidified its position as the youngest healthtech unicorn. Leading the funding round were Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures, and Trifecta Capital.
In March of the previous year, Pristyn Care made headlines for reportedly downsizing its workforce across various departments, affecting employees in sales, tech, and product teams. Established in 2018, Pristyn Care specializes in providing advanced secondary care surgeries through its extensive network of hospitals and clinics. Headquartered in Gurugram, the startup has amassed a total funding of over $177 million to date.
(With Agency Inputs)
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