Published On: Fri, Feb 19th, 2021

InnoVen Capital invests INR 25 Crores in MediBuddy

New Delhi, February 19, 2021.

Following the announcement of the closure of its $40 Million Series B Round, MediBuddy, India’s leading digital healthcare platform has also received significant funding support from InnoVen Capital, Asia’s leading venture debt and speciality lending firm. The firm has invested INR 25 crores in the platform. This investment underlines the InnoVen Capital’s commitment to back promising start-ups that are disrupting their respective categories.

Talking about the investment, Mr. Satish Kannan, Co-Founder & CEO, MediBuddy, said, “Knowing that our investment partners trust in our vision, helps us work harder in building the health infrastructure in India. As India’s leading healthcare platform, we thrive on making quality healthcare affordable, accessible, and available across the length and breadth of the country. We are delighted to enhance our partnership with InnoVen Capital, who have been a partner with us for several years. It makes me immensely proud to say that we now have the most comprehensive network to serve consumers and enterprise clients alike. With our recent equity funding as well as venture debt raise, the company is well-capitalized to execute an ambitious growth agenda.”

Ashish Sharma, CEO, Innoven Capital India added, “Healthcare delivery is at an inflexion point and Covid has further accelerated the transition. We have been an active investor in the Healthcare space and believe that tech first, AI-driven platforms like MediBuddy are well-positioned to disrupt the market, and we are delighted to back them in their vision to make quality healthcare accessible for all.”

In June 2020, to create market leadership in the digital healthcare industry, DocsApp (India’s leading online doctor consultation platform) merged with MediBuddy. Going forward, both MediBuddy and DocsApp will operate under a single brand name – MediBuddy.

As India’s largest digital healthcare platform, MediBuddy gives its users 24×7 access to high-quality healthcare on their fingertips. MediBuddy 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.

With a network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres and 2,500 pharmacies, covering over 95% of all pin codes in India, MediBuddy is well-positioned to strengthen its leadership position by providing 24×7 access to a range of healthcare services across India. MediBuddy is truly living up to its name of being a ‘buddy’ who can be trusted to meet all your healthcare needs.

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