Pristyn Care, a platform for planned surgeries, said it has raised $12 million (Rs 85 crore) in a Series B round of funding from new and existing investors.
New investors that brought in capital are Hummingbird Ventures, Greenoaks Capital and AngelList, said Pristyn Care in a statement.
Sequoia Capital, which had invested around $4 million as part of the company's Series A funding round earlier this year, also pooled in capital, it added.
Pristyn Care, which is operated by GHV Advanced Care Pvt. Ltd, will use the fresh funds to invest in technology and operations.
Pristyn Care, founded in 2018 by Harsimarbir Singh, Vaibhav Kapoor and Garima Sawhney, is an asset-light healthcare platform that has over 70 clinics and more than 250 partner hospitals across 14 cities. It also has over 70 in-house super-speciality surgeons with expertise in general surgery, ENT (ear nose throat), urology, gynaecology, vascular and cosmetic surgeries. The company says it has built capabilities to facilitate hassle-free insurance clearance for its patients.
Singh, co-founder, Pristyn Care, said that the company is able to cut the cost of treatment of advanced surgeries by 30-40% compared to larger hospitals because of its asset-light and technology-enabled approach.
Ashish Agrawal, principal, Sequoia Capital India, said that healthcare delivery in India is a large yet fragmented market where Pristyn Care is operating with a scalable model with good economics.
Sequoia Capital has been quite active in backing new-age healthcare startups in the country. Its investments in the space include Practo and 1mg, two of the most heavily-funded startups in healthcare.
Deals in the health-tech segment
Investment activity in the health-tech segment has been quite strong as startups seek to differentiate themselves by addressing gaps in traditional healthcare models and even offering frontier technology-based solutions.
Last month, WonDRx, a startup that seeks to bridge the gap between patients and healthcare providers through a data-driven approach, raised an undisclosed sum of money from startup incubator and accelerator Venture Catalysts as part of its seed funding round.
In October, MEngage Technologies Pvt. Ltd, a health-technology startup that provides a doctor-patient engagement platform, raised $100,000 (Rs 71 lakh) in an extended seed funding round from a clutch of investors, including Bollywood singer Sukhbir Singh.
In September, health-tech startup PlusPin Healthcare raised Rs 5.25 crore ($708,720) in its seed round of funding from a clutch of investors of the Indian Angel Network (IAN) including former Google India head Rajan Anandan, who had joined Sequoia Capital as managing director earlier this year.
In the same month, ProPhysio, a healthcare firm, raised an undisclosed amount in its Series A funding from the NestaVera Group of companies, an investment firm with interests in sectors including education, co-working and real estate.
