Healthtech startup Pristyn Care has raised INR 86.14 Cr from several investors.
According to filings with the Ministry of Corporate Affairs and accessed by Inc42, Pristyn Care has issued Series C Compulsorily Convertible Cumulative Preference Shares (CCCPS), with a nominal amount of INR 50 per share and a premium of INR 10,54,330 per share to the following entities.
- 122 shares to SCI Investment S VI, aggregating to a total amount of INR 12.86 Cr
- 1 share to Redwood Trust, acting through its trustee Sequoia Capital India, aggregating to a total amount of INR 10,54,380
- 50 shares to Hummingbird Ventures, aggregating to a total amount of INR 5.27 Cr
- 288 shares to Hummingbird RD GP NV, aggregating to a total amount of INR 30.36 Cr
- 356 shares to EPIQ Capital, aggregating to a total amount of INR 37.53 Cr
Founded in 2018 by Harsimarbir Singh, Vaibhav Kapoor and Garima Sawhney, Pristyn offers affordable advanced surgical care to patients through innovative surgical techniques and recovery measures. As of December last year, the platform had claimed to have performed over 10,000 surgeries.
The company’s last funding round came in December last year when it raised $12 Mn in a Series B round led by Hummingbird Ventures, which is also an investor in Pristyn’s recent funding. The round also saw participation from Sequoia Capital India, Greenoaks Capital and AngelList to expand its healthcare operations and technology.
Earlier that year, the company had raised $4 Mn in its Series A funding round from Sequoia Capital India.
Pristyn is working towards building a strong ecosystem to deliver surgical care. Besides surgeries, the platform focuses on doctor’s consultation, hospital admission and pre-and-post-surgical follow-ups, among other services.
Besides Pristyn Care, other names in this domain include Zoctr, Portea Medical and Care24 among others.
According to a recent report by the Indian Brand Equity Foundation (IBEF), the Indian healthcare market size is expected to grow three-fold to $133.4 Bn by 2022. Meanwhile, an Inc42 Plus analysis says that Indian healthtech startups will contribute $21 Bn by 2025, which will be only 3.3% of the total addressable healthcare market that is pegged to reach $638 Bn in 2025.