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Medulance Bags $3 Mn Series A Funding Led by Alkemi Growth Capital

Written by : Aishwarya Sarthe

April 16, 2024

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LtoR - Mr. Ravjot Sigh Arora & Mr. Pranav Bajaj, Co-Founders, Medulance

The funding will be instrumental in expanding Medulance's presence across India, with plans to reach over 1000 cities within the next 15-18 months.

Medulance, a healthtech platform providing emergency healthcare services, has secured $3 million in Series A funding, with Alkemi Growth Capital leading the investment.

The funding round saw participation from prominent investors such as Dexter Capital, Aman Gupta, and Namita Thapar, reflecting investors’ confidence in Medulance's core offerings.

The infusion of funds is earmarked for expanding its presence nationwide and enhancing emergency management technology to address critical service execution challenges.

The primary objective behind Medulance's funding acquisition is to fortify its presence across India and enhance its emergency management technology.

The funding will be instrumental in expanding Medulance's presence across India, with plans to reach over 1000 cities within the next 15-18 months. This expansion prioritizes patient safety and aims to provide quality care nationwide.

Additionally, the funds will be allocated towards enhancing emergency management technology to ensure prompt responses and efficient execution of services.

Sharing thoughts, Pranav Bajaj, cofounder & CEO of Medulance, said, "This funding marks an important milestone for Medulance. With the support of our investors, we are poised to scale our operations and further elevate the standards of emergency healthcare across India."

Addressing Challenges in Emergency Response

One of the significant challenges in the emergency response space is the quality training of paramedic personnel.

Medulance plans to tackle this issue through its Healthcare Academy, aiming to improve the standards of care by training a highly skilled paramedic workforce.

Highlighting the impact of this investment, Alka Goel, founder, Alkemi Growth Capital, said, "The infusion of capital into Medulance will enable it to expand its fleet, enhance its technology infrastructure, and improve its response times."

Since its inception in 2017, Medulance has played a pivotal role in transforming emergency medical services in India. With a fleet of 10,000 ambulances and partnerships with government bodies and major corporations, Medulance aims to make emergency services accessible nationwide.

"Through this capital, Medulance would leverage the latest technology, including 5G and smart remote monitoring via its smart ambulances to create a 360-degree ecosystem by partnering with corporates, governments, and insurance companies,’’ Ravjot Singh Arora, cofounder and COO of Medulance, stated.

Healthtech Funding Witnessing Upward Trend

Keeping the healthtech funding trend buzzing, days back ClaimBuddy, a health insurance claim assistance platform, closed its Series A funding round with a substantial investment of $5 million. The funding aims to enhance technological capabilities and expand its offerings for hospitals and patients. Similarly, Butterfly Learnings, specializing in pediatric behavioral and developmental health, secured approximately $3.8 million in its Series A round last week. This investment will facilitate expanding its technology-enabled therapy programs for neurodiverse children. Additionally, IIT Hyderabad's Center for Healthcare Entrepreneurship received funding of $9.6 million to accelerate the development and adoption of breakthrough healthcare solutions.


About Chime India

The College of Healthcare Information Management Executives (CHIME) is an executive organization dedicated to serving senior digital health leaders. CHIME includes more than 5,000 members in 56 countries and two US territories and partners with over 150 healthcare IT businesses and professional services firms. CHIME enables its members and business partners to collaborate, exchange ideas, develop professionally and advocate the effective use of information management to improve the health and care throughout the communities they serve. CHIME's members are chief information officers (CIOs), chief medical information officers (CMIOs), chief nursing information officers (CNIOs), chief innovation officers (CIOs), chief digital officers (CDOs), and other senior healthcare leaders. The CHIME India Chapter became the first international chapter outside North America in 2016 and is now a community of over 70+ members in India. For more information, please visit www.chimecentral.org

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