17 April 2024 – Medulance, a business providing emergency medical services, has secured $3 million in Series A investment, with Alkemi Growth Capital leading the round. Investors include Dexter Capital, Aman Gupta, the creator of Boat, and Namita Thapar, the executive director of Emcure Pharmaceuticals, who also took part in the investment round.
After operating as a successful bootstrapped business for six years, the New Delhi-based firm has acquired further funding, it said in a statement. The money will be used to expand its reach across the nation, with an emphasis on emergency management technologies that will shorten service response times for emergency calls in more than 500 Indian cities.
Over the following 15 to 18 months, Medulance hopes to reach over 1,000 cities by expanding into tier 2 and tier 3 cities. In the next years, it also hopes to form public-private partnerships to expand its services to three or four other states.
Conclusion
According to co-founder and chief operating officer Ravjot Singh Arora, Medulance has increased its fleet to 10,000 ambulances across more than 500 locations in India since its founding in 2017. It has slashed the emergency ambulance dispatch time from five minutes to two minutes. “With this capital, Medulance would partner with corporations, governments, and insurance companies to create a 360-degree ecosystem by leveraging the latest technology, including 5G and smart remote monitoring via its smart ambulances,” Arora said.
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