Orange Health raises $25 mn in its Series B round of funding from Bertelsmann India
- ByStartupStory | June 2, 2022
Orange Health, a diagnostics lab service startup, announced a $25 million Series B funding led by Bertelsmann India Investments and General Catalyst on Wednesday. Existing investors such as Accel, Y Combinator, Good Capital, and Uncorrelated Ventures joined the round as well.
The funds will be used for product development, creating a better user experience, and constructing laboratories. It also intends to enter new markets and improve teams across departments.
Dhruv Gupta, the co-founder of Orange Health said that in 2021, Orange Health secured $10 million in a Series A investment from Accel. He also said that while traditional diagnostic laboratories require patients to come to them at collection centres, most home collection diagnostic firms have struggled to offer services on time. Orange Health’s low-cost, on-demand solution fills this market void.
Orange Health, founded in December 2020 by former Practo executives Dhruv and Tarun Bhambra, provides diagnostic lab services around Bengaluru and the National Capital Region (NCR). So far, the firm claims to have served over a million consumers with diagnostic tests. Orange Health is open every day from 6 a.m. to 10 p.m.
“Over the last two years, healthcare and diagnostics have emerged as an important subject for India, and we feel that Orange Health is on the right track to make it smooth for physicians and patients,” said Pankaj Makkar, managing director of Bertelsmann India Investments.
Diagnostics, a key component of illness detection, saw an increase during the pandemic as more people were needed to get tested for COVID-19, among other diseases.
To accommodate rising demand, Tata 1 MG, a drug delivery company, launched its own diagnostic services, while PharmEasy purchased diagnostics player Thyrocare.
Follow Startup Story
Related Posts
