Medulance, a leading emergency healthcare provider, made a significant announcement on Tuesday, revealing the successful acquisition of $3 million (approximately Rs 25 crore) in Series A funding. This development comes on the heels of the company's six-year journey as a profitable bootstrapped entity. The infusion of funds is earmarked for expanding its footprint across India, with a primary focus on enhancing emergency call answering and response times in over 500 cities nationwide.
Alkemi Growth Capital spearheaded the funding round, with notable contributions from esteemed investors including Dexter Capital, Aman Gupta, and Namita Thapar. Pranav Bajaj, Co-founder and CEO of Medulance, expressed gratitude for the support from investors, citing it as a pivotal moment for the company's trajectory. He emphasized the commitment to elevate emergency healthcare standards throughout India.
At present, Medulance boasts a robust fleet comprising up to 10,000 ambulances deployed across more than 500 cities. Looking ahead, the company has ambitious plans to extend its reach to over 1,000 cities within the next 15-18 months. Additionally, it aims to forge strategic public-private partnerships to extend its services to 3-4 additional states in the foreseeable future.
Ravjot Singh Arora, Co-Founder and COO of Medulance, outlined the company's vision to leverage cutting-edge technology, including 5G and smart remote monitoring via its fleet of smart ambulances. This forward-looking approach aims to establish a comprehensive ecosystem by collaborating with corporate entities, governmental agencies, and insurance providers.
Read also | Tesla, Led by Musk, Initiates Global Workforce Reduction of Over 10%
Read also | US-Based Lam Research Commits Rs 241 Crore to Enhance India's Semiconductor Workforce
