MediBuddy Funding 2023: MediBuddy got $18 Million Funding from Existing Investors

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MediBuddy Funding: Established in 2013 by Satish Kannan and Enbasekar Dinadayalane, MediBuddy boasts an extensive network comprising 90,000 doctors, 7,100 hospitals and clinics, 4,000 diagnostic centers, and over 2,500 pharmacies. The platform offers a comprehensive array of healthcare services, including both online and offline doctor consultations, medicine delivery, home lab tests, mental health consultations, and surgical care.

MediBuddy Funding 2023

MediBuddy, the digital healthcare platform, has successfully secured an additional $18 million in funding from its current investors—Quadria Capital, Lightrock, and TEAMFund. The primary purpose of these funds will be to facilitate acquisitions and strengthen the startup’s existing services. However, it hasn’t been clarified whether this new funding is an extension of its Series C round or part of a new financing round. In the previous Series C round held in February 2022, the company had raised $125 million. Prior to this latest injection of funds, MediBuddy had amassed a total of $166 million in funding, according to Tracxn.

MediBuddy has been on an impressive growth trajectory, with a Compound Annual Growth Rate (CAGR) of 95.5% over the past three years. CEO Satish Kannan stated, “The additional funds will be critical in driving our strategic acquisition initiatives, further expanding our reach, and enhancing the depth and breadth of our services.”

Notably, MediBuddy has recently undertaken strategic acquisitions, including the purchase of Clinix—an online medical consultation platform focused on rural India—in July 2022, and the acquisition of vHealth from US-based Aetna Inc in February 2023.

MediBuddy currently serves over 35,000 daily users, catering to both corporate and retail sectors, in addition to its existing customer base of over three crore individuals.

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