o3 Capital acted as the exclusive financial advisor to RED.Health on its fundraise from a consortium led by Jungle Ventures

We're pleased to announce that our client, RED.Health, has raised growth capital in a round led by Jungle Ventures, with co-investments from Alteria Capital and existing investors.

Founded in 2016 as StanPlus, RED.Health is India’s leading Medical Emergency Response business with a formidable presence in 20 key cities across India. The company offers emergency system support to hospitals and corporates, and to the end customers through the aggregator platforms. RED.Health has partnerships with 100+ hospitals including the leading national and regional players, a fleet of 6,000+ ambulances with a team of 1,200+ medical care professionals. Supported by a strong leadership team with relevant domain expertise, RED.Health is backed by marquee investors HealthQuad, Kalaari Capital and HealthX. The existing investors HealthQuad and HealthX have also participated in this round along with Jungle Ventures and Alteria Capital.

Speaking about the fundraise, Prabhdeep Singh, Founder and CEO of RED.Health, said, “We are thrilled to welcome Jungle Ventures and Alteria Capital to our esteemed group of investors, and we extend our heartfelt gratitude to HealthQuad and HealthX for their continued support. The fact that we've received support from investors spanning different geographies reflects the conviction towards what we've been building over the past eight years. Since our last fundraise, we've made substantial strides in technology development, particularly in refining our dispatch system to ensure seamless operations without delays or errors. With this round, we’re set to scale operations in becoming a leading integrated medical emergency response platform in India.”

Seemant Jauhari, Partner Healthcare at Jungle Ventures said “We are delighted to partner with RED.Health in creating a robust platform that ensures that our families get access to standardized, reliable and efficient emergency care. We believe in RED.Health's vision to expand their services to 40+ cities in India, leveraging technology to enable the nearest ambulance to transport a patient safely to one’s hospital of choice. We foresee that in the long term, every Indian should be able to access emergency response via just a click of a button. Leveraging our deep healthcare experience and network, we are excited to partner with RED.Health to build the most reliable emergency platform and ecosystem in India.”

Dr. Pinak Shrikhande, Managing Director at HealthQuad said “Having been closely involved with RED.Health for some time now, we've witnessed the company's remarkable evolution into a leader in emergency care solutions leveraging differentiated tech innovations. The recent partnership with Jungle Ventures marks an exciting chapter in RED.Health's journey, driving it towards accelerated growth. We're confident that this collaboration will help the business chart a path to success that sets new standards in the healthcare industry.”

Vamshi Krishna Reddy, Partner at Kalaari Capital said, “Overall, there exists a white space for a player to build a strong brand in emergency response management in India. Having been a partner with them since their Seed round in 2017, we have been impressed by RED.Health's relentless pursuit of excellence and their ability to leverage technology for improving patient outcomes. The infusion of Series B funding and the partnership with Jungle Ventures signifies an exciting phase of growth.”

This marks o3 Capital's 14th deal closure in the Healthcare & Lifesciences space in the last 24 months. The deal reiterates o3 Capital’s strong credentials in the Healthcare & Lifesciences segment (60 deal closures till date) and our ability to consummate deals in niche emerging segments within the healthcare space.