Medulance, a pioneering player in India’s emergency healthcare services sector, has secured $3 million in Series A funding led by Alkemi Growth Capital. The funds will be used to increase its presence across the country while focusing on emergency management technology to solve problems in executing services en masse. This includes further reducing emergency call answering time and emergency services response time in more than 500 cities in India.
The funding round also saw participation from marquee investors such as Dexter Capital, Aman Gupta, and Namita Thapar. Medulance has secured the funding after running as a profitable bootstrapped company for six years.
Medulance aims to make a large-scale impact in a populous country like India where the incidence of acute life-threatening diseases is also high by reaching Tier 2 and Tier 3 cities and creating homogenous quality of services throughout. In the next 15-18 months, Medulance plans to expand to over 1000 cities in the country, prioritizing patient safety and quality of care in every region. The company also aims to establish public-private partnerships to extend its services to an additional 3-4 states in the coming years.
Commenting on the announcement, Pranav Bajaj, Co-founder and CEO of Medulance, said, “A wise man once said that next to creating a life, the finest thing a man can do is save one, and I think we never want to give up on what we believe we must do. After running a profitable bootstrapped company for 6 years, Medulance has raised a Series A round of 3 million dollars. 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.”
Ravjot Singh Arora, Co-Founder and COO of Medulance, said, “In the last 6 years, we have grown our fleet up to 10,000 ambulances, reaching 500+ cities PAN India, and improving the dispatch time of emergency ambulances from 5 to 2 minutes. 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.”
Ms. Alka Goel, Founder of Alkemi Growth Capital, said, “The infusion of capital into Medulance will enable it to expand its fleet, enhance its technology infrastructure, and improve its response times. This investment will also support the company in recruiting and training qualified medical professionals to ensure the highest standards of patient care.”
Through its recently launched Medulance Healthcare Academy, Medulance aims to solve one of the biggest challenges of the emergency response space: quality training of the paramedic force. It seeks to expand its education vertical and improve the standards of care through a highly trained paramedic workforce.
