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India-based digital healthcare platform, MediBuddy has raised additional funding of $18 Million from its existing investors including Quadria Capital, Lightrock, and TEAMFund.
The company plans to infuse the fresh funding for product development, business expansion, and strategic acquisitions.
In February 2022, MediBuddy raised $125 million during the Series C funding. The recent additional funding puts MediBuddy in a solid position to navigate the current landscape and achieve its ambitious growth targets over the next three years.
Speaking about the funding, Satish Kannan, Co-Founder and CEO of MediBuddy, said, ” Our continued partnership with all our investors has been instrumental in MediBuddy’s growth and is helping us solve India’s healthcare needs. MediBuddy’s growth trajectory has consistently achieved a Compound Annual Growth Rate (CAGR) of 95.5% over the past three years.”
“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. At MediBuddy, our constant endeavor has been to make high-quality healthcare accessible to a billion people. This move further solidifies our stance as a market leader in the digital healthcare landscape,” Kannan added.
As a part of the strategic acquisition plan, MediBuddy recently acquired such as Clinix, an online medical consultation platform focusing on rural India, and US-based Aetna Inc’s vHealth by Aetna business (Indian Health Organization Pvt Ltd).