A start-up founded in 2016, StanPlus, has raised a $20 million combination of debt and equity in funding from investors such as HealthQuad, Kalaari Capital, and HealthXCapital of Singapore.
Health tech start-up promises 8-min ambulance delivery to patients. The company will utilize funds by an expansion of operations to a few more places, technology enhancement, and employee increase. Currently, the service is available in only five cities – Hyderabad, Bangalore, Raipur, Kolkata, and Kanpur. They are planning to make tie-up with more than 500 hospitals and launch their flagship ambulance in 15 major cities.
“In India, grocery is delivered in 10 minutes, but ambulances take 45 minutes. At Stanplus, we are focusing on the 8-minute ambulance paradigm – I like to call it the ‘First Minute, Last Mile’ healthcare. The capital will allow us to scale across India, bring amazing talent work on this mission, and build world-first technologies,” said Prabhdep Singh, co-founder, and CEO.