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Pristyn Care Turns Unicorn; Raises US$ 96 M

With this funding, the valuation of Pristyn Care has more than doubled in the last seven months and is now at US$ 1.4 Billion, making it the latest digital health start-up to become a unicorn.

Pristyn Care – a health-tech start-up specialising in secondary-care surgeries, has raised US$ 96 Million in Series E round.

This latest round of funding was led by marquee investors such as Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures and Trifecta Capital. Angel investors in this round include Kunal Shah (Founder & CEO, CRED), Deepinder Goyal (Co-founder & CEO, Zomato), Abhiraj Singh Bhal (Co-founder & CEO, Urban Company) and Varun Alagh (Co-founder & CEO, Mamaearth).

With this funding, the valuation of Pristyn Care has more than doubled in the last seven months and is now at US$ 1.4 Billion, making it the latest digital health start-up to become a unicorn.

Pristyn Care will utilise this new investment to enhance its offerings by adopting the latest surgical technologies, expanding into new disease categories, strengthening and modernizing partner-hospital infrastructure, training its surgeons and further developing its product and technology.

By March 2022, the company plans to increase its geographical footprint by expanding to 50+ cities/towns and 1000+ surgical centres. Pristyn Care also intends to double its team size. With technology as the backbone of its operations, the company will hire highly qualified engineers, who will form a quarter of its new workforce.

Announcing the latest round of funding, Co-founder Harsimarbir (Harsh) Singh, said “Patient-care is at the core of our commitment to offer the highest quality secondary-care surgeries. We have built a rock-solid technology backbone that strengthens our patient-first initiatives – such as end-to-end support services during the entire process of surgery, billing transparency and at-home insurance claim processing – and ensure that patients are treated in the most comfortable manner. This round of funding is an acknowledgement of the trust our investor partners and our patients have in us. With our expansion plans firmly in place and on track, we will accomplish our ambition of reaching 1000+ surgical centres and 5 million patient interactions by March 2022. We will continue to invest in newer, world-class surgical technology to ensure faster patient recovery, shorter hospital stay and the smoothest surgery experience possible for patients and their families.”

Speaking on the new investment, Dr Vaibhav Kapoor, Co-founder, Pristyn Care said, “The investment will help us enhance the surgery experience of our patients. We will invest in newer surgical technologies to provide world-class treatment and experience to our surgery patients. We plan to expand our surgical offerings in more cities and towns as well as international patients seeking treatment in India. Our 400+ doctors come with a wealth of experience of having operated on the most complex cases. Right from metros to smaller towns we are committed to hiring only the best doctors at Pristyn Care.”

Pristyn Care has scaled 5X since January 2021and expects to be profitable in the next 12-18 months. At present, it operates via 150+ clinics and 700+ partner hospitals with a panel of 300+ experienced doctors who work exclusively for the company.

Its network currently spans seven metro cities – Mumbai, Pune, Delhi, Bangalore, Hyderabad, Chennai and Kolkata-and 33 tier 2 & 3 cities.

Dr Garima Sawhney, Co-founder, Pristyn Care said, “A fairly large number of patients from small towns have to travel, sometimes hundreds of kilometres, to seek quality surgical care in nearby metro cities. We aim to bridge this accessibility gap in the surgery space and take superior quality surgeries to patients in Tier 2 & 3 cities of the nation. Functioning on a scalable asset-light ecosystem, we’re able to offer high-end surgery solutions close to patients’ residences, thereby helping them with care that is truly closer to home.”

Source: Business World

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