Orange Health Labs Secures $12 Million Funding Led by Amazon Smbhav Venture Fund
- ByStartupStory | December 9, 2024
Orange Health Labs, a leading diagnostics and healthcare platform, has successfully raised $12 million in its latest funding round, led by the Amazon Smbhav Venture Fund. This round also witnessed participation from existing investors such as Accel, General Catalyst, Bertelsmann India Investments, and Y Combinator, taking the total capital raised by the company to $47 million.
The funding follows Orange Health’s $25 million Series B round in June 2022, spearheaded by General Catalyst and Bertelsmann India Investments. In a significant move three months later, the company introduced its first employee stock option plan (ESOP) and a $1 million equity buyback program.
The newly raised funds will be directed toward accelerating product expansion, strengthening the team, and driving diagnostic innovation.
Founded in December 2020 by Dhruv Gupta and Tarun Bhambra, Orange Health Labs has carved a niche by offering on-demand diagnostic services. These include at-home sample collection within 60 minutes and report delivery within six hours. Operating in Bengaluru, Delhi-NCR, Mumbai, and Hyderabad, the platform has served over 1 million customers, managing six labs and partnering with over 1,000 clinics.
The company has seen remarkable growth, boasting a threefold revenue increase over the past two years. It recently surpassed an annual revenue run rate of INR 100 crore and achieved profitability in its Bengaluru operations.
Dhruv Gupta and Tarun Bhambra, Founders of Orange Health Labs, highlighted the company’s focus on omnichannel growth. “The company is now going omnichannel, investing in building its retail presence with 8 operational collection centers and plans to expand to 30 by year-end. Additional investments include broadening our test menu, tripling our phlebotomist (eMedic) workforce within the next year, and establishing a new test facility to meet Bangalore’s growing demand,” they said.
They further added, “Recently, we enabled consumers to get ECG tests from the comfort of their homes or collection centers and remain committed to driving greater availability and convenience for our customers.”
Expressing enthusiasm for the partnership, Abhijeet Muzumdar, VP Corporate Development and Head of Amazon Smbhav Venture Fund, stated, “Dhruv, Tarun, and their team have created a robust diagnostics service, and we are excited to back them for their next growth phase.”
The Amazon Smbhav Venture Fund, established in April 2021 with a corpus of $250 million, focuses on supporting innovative Indian startups. Past investments include M1xchange, The Good Glamm Group, and Smallcase.
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