Pristyn Care In Talks To Raise $100 Mn: Report

Pristyn Care’s FY23 Revenue Inches Closer To INR 500 Cr Mark, Loss Jumps To INR 383 Cr

SUMMARY

Pristyn Care is reportedly in preliminary discussions to raise between $50 Mn to $100 Mn in a fresh funding round

The funding round is expected to close in the first half of 2025, after which the funding will be deployed to fuel the company's expansion

Pristyn Care is also preparing for an initial public offering (IPO) within the next three years

Healthtech unicorn Pristyn Care is reportedly in preliminary discussions to raise between $50 Mn to $100 Mn in a fresh funding round.

Citing sources, Livemint reported that the funding round is expected to close in the first half of 2025. The company plans to deploy the capital to fuel its expansion.

Additionally, Pristyn Care is preparing for an initial public offering (IPO) within the next three years. For this, it has already engaged with bankers to facilitate the fundraising process and is actively in talks with global investors, high-net-worth individuals, and family offices, the report said.

Founded by Harsimarbir Singh, Dr Vaibhav Kapoor, and Dr Garima Sawhney in 2018, Pristyn Care offers secondary care surgeries through its network of more than 200 clinics, 700 hospitals, and a team of 400+ in-house super-speciality surgeons across 30 cities in India.

In March this year, Inc42 exclusively reported that the company laid off 120 employees in a restructuring exercise to target profitability. This came after the company fired around 300-350 employees, across departments, in 2023.

In 2022, Pristyn Care expanded its footprint internationally by launching operations in Bangladesh, with a presence in Dhaka and Chittagong.

Notably, Pristyn Care has secured $177 Mn across multiple funding rounds to date. It achieved the unicorn status in late 2021 after raising $96 Mn in its Series E round, backed by Peak XV Partners (formerly Sequoia Capital India), Tiger Global, Winter Capital, Epiq Capital, and Hummingbird Ventures, at a valuation of $1.4 Bn.

In the financial year ending March 2024 (FY24), the company reported an operating revenue of INR 601 Cr as against INR 453 Cr in the previous year. Net loss declined marginally to INR 381 Cr from INR 383 Cr in FY23.