Gurugram based Pristyn Care joins the unicorn club post a funding round worth $85 million

• ByTejika Bajaj     |    December 8, 2021

Gurugram based healthcare startup Pristyn Care recently raised a consolidated amount of $85 million in a new funding round led by Sequoia Capital and Tiger Global. The round also saw participation from Epic Capital, Amber Winter Ltd, Hummingbird Opportunity Funds, Trifecta, Dream Duo LLP, Abhiraj Singh Bhal, MamaEarth’s Varun Alagh and Kunal Shah’s Qed Innovation Labs among others.

According to reports, Pristyn Care has approved the issuance of 1,266 Series E compulsory convertible preference shares (CCPS) at a face value of INR 50 and premium of INR 5,019,030 thus amounting to INR 635.41 crore ($84 million). Further the healthcare startup has also approved the issuance of 105 equity shares at a face value of INR 1 and a premium of INR 501,907 per share amounting to INR 5.27 crore.

Following this round of fundraise, the post money valuation of Pristyn Care stands at $1.3 billion as against $51 million in the previous round, thus making it a member of the coveted unicorn club. With this, Pristyn Care has become the first unicorn reported in December and the 42nd entrant to the unicorn club in 2021.

Headquartered in Gurugram, Pristyn Care is a healthcare startup which provides a multitude of services including hospital admission, diagnostics support and insurance claims. It runs a hybrid model of 200 in-house speciality surgeons and 150 clinics including 700 third-party hospitals and further aims to open 1000 surgical centres in 50 cities. 

Pristyn operates more than 40 cities including Delhi (NCR), Hyderabad, Bengaluru, Chennai, Kolkata and Mumbai and is eyeing the acquisition of med-tech startup Practo in the coming year. 

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