Exclusive: Pristyn Care raises $4 Mn to scale in-house hospitals, preps for larger round

Pristyn Care, a surgery-focused hospital chain, has raised $4 million as part of a larger funding round to support its expansion of owned hospitals, according to company sources and internal documents seen by Entrackr.

Entarckr has also gone through its regulatory filing, where the company board has passed a resolution to approve the issue of 34,280 Series E1 CCPS at an issue price of 10,038.16 each to raise the aforementioned sum.

Existing investors Peak XV Partners and Hummingbird Ventures are investing in this fresh investment. The company was reportedly in talks to talks to raise $100 million from new and existing investors.

Pristyn Care has completed this infusion at an effective share price of Rs 10,038, the same as the last round, indicating the valuation remains unchanged. Pristyn Care has also increased its authorised capital to facilitate future fundraises and strengthen its financial foundation for continued growth.

In the last four months, the company has opened eight owned hospitals.  Pristyn now operates roughly 200,000 sq ft with about 450 beds. According to the company, more than 10 additional hospitals are slated to launch in the coming months, and the footprint is expected to double by December 2025.

According to startup data intelligence platform TheKredible, Pristyn Care has raised approximately $180 million to date from investors including Peak XV Partners, Tiger Global, Epiq Capital, and others.  

In the fiscal year ended March 2024, the firm recorded over 30% growth in operating revenue to Rs 600 crore, while its losses remained steady at Rs 381 crore during the same period.