Healthtech Startup Airmed Path Labs Secures $1.4 Mn Funding From Brand Capital

Ahmedabad-based healthcare lab aggregator, Airmed Path Labs has reportedly secured $1.4 Mn (INR 10 Cr) from Bennet, Coleman and Co. Ltd.’s (BCCL) investment handle, Brand Capital.

The secured funds will be deployed towards expansion and strengthening its brand, according to an ET report.

Launched by Amit Gupta and Piyush Gupta in 2016, the company outsources pathological tests to local pathology laboratories and also facilitates their back-end technology to improve production and capacity.

Commenting on the development, Amit Gupta, co-founder, Airmed Path Labs said, “We will be deploying these funds to increase brand salience and brand awareness to widen our customer base and enter new markets. By next month, we will be in Delhi, Gurugram and the rest of Gujarat.”

As per an official statement, the startup processes about 1,000 orders per month and generates profit by every order. The company has over 12 offline centres in Ahmedabad and plans to add 100 labs by March 2018.

In October 2016, Yuvraj Singh-backed diagnostic and wellness startup Healthians raised $3 Mn (INR 20 Cr) in Series A round of funding from Japanese early-stage investor BEENEXT. Japanese incubator Digital Garage and BEENOS also participated in the round along with a few other undisclosed investors. In December 2016, Jaipur-based healthtech startup NeuroEquilibrium Diagnostics Systems Pvt. Ltd raised $250K in Pre-Series A round of funding.

The portal currently competes with diagnostics chains such as Dr. Lal PathLabs, Fortis Healthcare-controlled SRL, and Dalmia Medicare, launched in August 2016 by the Dalmia Group.