Pristyn Care in Talks to Raise $100 Mn in Fresh Funding

The capital is expected to fuel the company’s expansion into new markets and strengthen its existing network.

Healthtech unicorn Pristyn Care is reportedly in early discussions to raise $50 million to $100 million in a fresh funding round.

Reportedly, the funding round is expected to close in the first half of 2025. The capital is expected to fuel the company’s expansion into new markets and strengthen its existing network.

The company, founded in 2018 by Harsimarbir Singh, Dr Vaibhav Kapoor, and Dr Garima Sawhney, specializes in secondary care surgeries.

It operates through a network of over 200 clinics and 700 partnered hospitals and employs more than 400 in-house super-specialist surgeons across 30 cities in India.

IPO Preparedness

The healthcare unicorn is also gearing up for an initial public offering (IPO) within the next three years.

The company has reportedly engaged bankers to facilitate the IPO process and is in discussions with global investors, high-net-worth individuals, and family offices.

The healthtech provider has raised $177 million across multiple funding rounds, achieving unicorn status in late 2021 after securing $96 million in a Series E round. The round, led by Peak XV Partners (formerly Sequoia Capital India), Tiger Global, Winter Capital, and others, valued the company at $1.4 billion.

In its international efforts, Pristyn Care expanded operations to Bangladesh in 2022, establishing a presence in Dhaka and Chittagong.

Pristyn Care’s financial performance shows mixed results. For the fiscal year ending March 2024 (FY24), the company reported an operating revenue of INR 601 Cr, up from INR 453 Cr in FY23.

However, its net loss narrowed marginally to INR 381 Cr from INR 383 Cr in the previous fiscal year.

In efforts to improve profitability, Pristyn Care implemented restructuring exercises, laying off 120 employees in March 2024. This followed a more significant reduction of 300–350 employees in 2023, affecting various departments.