Quick commerce is currently the talk of the town. There has been a lot of buzz around the 10-minute delivery space, with companies like Swiggy and Zomato jumping onto the bandwagon. One startup, Hyderabad-based StanPlus, is trying to incorporate the under 10-minute factor into the private ambulance industry.
Speaking about the emergency response service, Prabhdeep Singh, Founder and CEO of StanPlus says that it is not only possible but also easy to execute. “In Hyderabad today, we are meeting in under 15 minutes, moving to an 8 minute paradigm and very soon we will be expanding this to all the cities that we are present or launching in,” he shares.
Prabhdeep Singh- Founder and CEO, StanPlus
StanPlus has recently raised $20 million in a series A funding round led by HealthQuad, Kalaari Capital and HealthXCapital Singapore. While talking about the fund utilisation plans, Prabhdeep shares that the company would be using the money primarily in three areas — talent, technology and training. The company wants to acquire great talent and keep bringing quality people in. Apart from that, StanPlus is also going to be investing in technology because this has the potential to bring the ETAs further down.
“We believe that in the current environment, it will be very difficult to scale up without creating our own training infrastructure,” he says. They are planning on creating India’s largest simulation lab and make sure that it serves as a finishing school for the nurses and drivers.
In terms of expansion plans, he mentions that StanPlus is currently aiming to expand into 15 cities this year. “We already have a presence in or are actively launching in 5 cities and the next 10 cities will follow immediately,” says Prabhdeep. He adds that the number of ambulances required will depend on the city and the traffic situation in that city.
There is an underlying problem of wrong destination selection in India according to Prabhdeep.
“We Indians choose the wrong hospital to go to, something that is 35-45 minutes away rather than picking a hospital that is 10-15 mins away,” he says.
StanPlus is currently working on solving that problem and creating a destination guideline for the patients.
Lastly, in terms of revenue targets, Prabhdeep mentions that the company is planning on doing 2.5x of their current base.
“We want to do at least 2x-3x every year for the next five years from year on,” he adds. The company is also launching many new products in the emergency space.
