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Venture debt fund Stride Ventures has led a debt funding round of Rs 25 crore in MediBuddy, a Bengaluru-based digital healthcare platform.
The startup helps its users consult specialist doctors, order medicines, and book lab tests from the comfort of their homes. It is also a partner to several leading corporate customers in the country and helps their employees access multiple healthcare benefits.
MediBuddy is led by co-founders Satish Kannan and Enbasekar, as CEO and CTO, respectively. With a partner network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres, and 2,500 pharmacies covering 95 percent pin-codes in India, MediBuddy has catered to the healthcare needs of three crore Indians and attends to the needs of over 35,000 Indians daily across the length and breadth of the country.
The startup said it will utilise the funding to further strengthen its technology, operations, and marketing to move a step closer to its mission of providing high-quality healthcare to a billion people.
Satish Kannan, Co-founder and CEO, MediBuddy
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.”
Stride Ventures recently launched its second venture debt fund with a target corpus of over Rs 1,000 crore. It will continue to invest in early to late-stage startups across sectors through its innovative alternate financing solutions within venture debt. The firm has disbursed over Rs 200 crore since January 2021.
Ishpreet Gandhi, Founder and Managing Partner, Stride Ventures, added,
“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.”
