Pristyn Care Raises $4 Mn to Expand In-House Hospitals, Eyes Larger Round

The capital is part of a larger ongoing funding round to scale its network of owned hospitals.

Surgery-focused healthcare chain Pristyn Care has raised $4 million from existing investors Peak XV Partners and Hummingbird Ventures, according to internal documents and regulatory filings reviewed by Entrackr.

The capital is part of a larger ongoing funding round to scale its network of owned hospitals.

A resolution passed by the company’s board approved the issue of 34,280 Series E1 Compulsorily Convertible Preference Shares (CCPS) at an issue price of INR 10,038.16 per share. The transaction was completed at the same share price as the previous round, indicating no change in valuation.

As part of its expansion plan, Pristyn Care has launched eight owned hospitals over the past four months. The company currently manages around 200,000 sq ft of hospital infrastructure with 450 operational beds. It plans to open over 10 additional hospitals, with the total footprint projected to double by the end of December 2025.

The company has also increased its authorised capital to accommodate upcoming fundraises and strengthen its financial structure.

According to startup intelligence platform TheKredible, Pristyn Care has secured about $180 million in total funding from investors including Peak XV Partners, Tiger Global, Epiq Capital, and others.

For the fiscal year ending March 2024, the company reported operating revenue of INR 600 crore, marking over 30% year-on-year growth. Losses for the same period stood at INR 381 crore, remaining flat.

Pristyn Care is reportedly in talks to raise up to $100 million from new and existing investors to fuel further expansion.

Stay tuned for more such updates on Digital Health News