Pristyn Care Raises Series D At $550 Mn Valuation To Expand Surgical Services

Gurugram-based healthtech startup Pristyn Care has raised $53 Mn in a Series D funding round led by New York-based venture capital firm Tiger Global, which has invested about $40 Mn in the round. Existing investors Sequoia Capital India, Hummingbird Ventures and Epiq Capital also participated in the round, which was raised at a valuation of $550 Mn.

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. Besides Pristyn Care, other names in this domain include Zoctr and Portea Medical, among others.

It has partnered with 400 hospitals in about 30 cities to provide surgeries and treatments for proctology, urology, ENT, gynaecology, vascular, laser and others. It has close to 200 full-time surgeons among 1,050 employees and has performed over 20,000 surgeries in 2020.

Pristyn Care plans to use this latest Series D funding to expand into new geographies as well as  new surgery specialities, advancing medical technology and minimally invasive surgeries. The company also plans on conducting 80,000 surgeries and adding 200-300 more employees to its team this year.

Beyond that, the company claims to be doubling down on its technology offerings and building an electronic medical record (EMR) service, which it will roll out by the end of this month. The company’s CEO and cofounder Harsimarbir Singh said that Pristyn Care is bullish on investing in softwares and EMR services will convert its clinics to completely paperless.

Prior to this series A round, Pristyn Care has raised $12 Mn in Series B from Sequoia Capital India, Hummingbird Ventures, Greenoaks Capital and AngelList to expand its healthcare operations and technology. The company has raised $69 Mn to date, with $4 Mn coming in from Series A round.

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.