Quadria Capital and Lightrock India joined existing investors Bessemer Venture Partners, India Life Sciences Fund III, Rebright Partners, JAFCO Asia, TEAMFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures, and Alteria Capital in a $125 million Series C funding round.
The Bengaluru-based firm previously raised $40 million in its Series B round in February of last year, eight months after its merger with online doctor consultation platform DocsApp. MediBuddy and DocsApp share the same brand name: MediBuddy.
According to a press release from Medibuddy, the new round of funding will be used to increase customer awareness, hire more people, and strengthen technology platforms such as data science capabilities, clinical research, and product development.
MediBuddy allows its users to consult with specialists, order medications, and schedule lab tests from the comfort of their own homes. It is also a partner to several of the country’s leading corporate customers, assisting their employees in accessing a variety of healthcare benefits.
The app connects patients to experienced and verified doctors for online consultations across 18 specialities such as Dermatology, Paediatrics, Gynaecology and others via chat, video or voice call.
Medibuddy claims to have over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres, and 2,500 pharmacies in 22 Indian cities, as well as a 1500-member team.
MediBuddy competes with a clutch of companies including Lybrate, Practo, mFine, 1mg and DoctorInsta among several others.
