Bengaluru based digital healthcare platform, MediBuddy has successfully raised INR 25 crore from the Venture debt fund Stride Ventures, in its debt funding round. MediBuddy helps its customers in consulting specialist doctors, ordering medicines, and booking lab tests from the comfort of their homes.
The startup has also partnered with leading corporates to provide world-class health-related services to their employees. With the current funding, the startup aims at utilising it to strengthen its technology, operations, and marketing to improve its services.
Founded in 2000, MediBuddy is led by co-founders Satish Kannan and Enbasekar, as CEO and CTO, respectively. The company has an expansive network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres, and 2,500 pharmacies covering 95 per cent pin-codes in India. The startup is proud to proclaim that it has catered to the healthcare needs of three crore Indians and attends to the needs of over 35,000 Indians daily across the country.
“The need for remote examining and monitoring of patients, and contactless technology all over India, is more imperative than ever. We are pleased to see how MediBuddy has leveraged technology to scale up rapidly with a clear vision to evolve health tech in India. We are excited to partner with them in their journey, as they look to enhance their offerings and leverage their market leadership to increase adoption across the country,” said Ishpreet Gandhi, founder and managing partner, Stride Ventures.
Satish Kannan, Co-founder and CEO, MediBuddy, said, “Telemedicine is growing at a monumental pace in India and the pandemic has only further amplified the importance of going digital. We are excited to have Stride Ventures along on this journey. At MediBuddy, we strive towards making high-quality healthcare accessible to Indians across the length and breadth of the country.”
New Delhi based Stride Ventures meanwhile, is a sector agnostic Venture Debt fund managed by veteran ex-bankers. The fund lends to growth-stage companies that are backed by institutional capital with a banking scope of the lens.