Ambulance startup StanPlus has raised $20 million (around Rs 148 crore) in its Series A round led by Healthquad, Kalaari Capital, and HealthX Singapore.
Pegasus, the family office of Hiranandani Group; Sandeep Singhal, senior adviser at Avaana Capital, and other angel investors have joined the new round. The capital also includes debt funding from N+1 capital.
Previously, the startup had raised $1.5 million in March 2020.
According to the Hyderabad-based startup, the proceeds will be used to ramp up its operations to 500 hospitals and launch its flagship Red Ambulance brand in 15 cities from five currently. The platform aims to reduce the expected time of arrivals of ambulances from 15 minutes to 8 minutes.
Founded in 2016 by Antoine Poirson and Prabhdeep Singh, StanPlus is a private ambulance service provider, and allows large hospitals, health apps, as well as wearable operators to enable plug-and-play medical response in case of an emergency.
The platform operates a fleet in the name of red ambulances that can be booked online or through phone
