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StanPlus, improving access to emergency healthcare in India

StanPlus says the amount will properly scale up operations and reduce ambulances' ETA from 15 minutes to 8 minutes. StanPlus, an emergency medical response

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CIOL Bureau
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STanPlus

StanPlus, an emergency medical response company, has raised $20 million in a Series A investment. Marquee investors led the round with Healthquad, Kalaari Capital, and HealthX Capital Singapore. Pegasus, Sandeep Singhal (Avaana) and Prashant Malik equally participated alongside a clutch of angel investors.

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The round also includes debt funding from N+1 capital. Additionally, the company raised $2 million from Grip Invest, utilizing it for leasing ambulances. Notably, this is the tremendous Series A fundraise in the healthcare sector. In the long term, it will expand its operations to 500 hospitals. And by launching its flagship Red Ambulance brand from the current 5 to 15 cities. StanPlus aims to reduce the ambulance ETAs from existing 15 minutes to 8 minutes. And 40 minutes less than other average ambulance service providers. Its hybrid fleet model both establishes and maintains world-class clinical standards.

The healthcare industry in India is huge and is worth $15 billion. Through the gaps in a highly fragmented market. It has created the Red Health platform allowing large hospitals, employers, health apps, wearables and other ecosystem players to plug-and-play medical responses.

Speaking on the investment, Prabhdeep Singh, founder and CEO, StanPlus, said: "In India, grocery delivery consumes 10 minutes compared to ambulances takes 45. At StanPlus, we focus on the 8-minute ambulance paradigm—I like to call it the 'First Minute, Last Mile' Healthcare. The capital will allow us to expand across India, promote exceptional talent to work on this mission, and develop world-first technologies!"

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Effective rescue system model

Charles Antoine Janssen, CIO, HealthQuad said: "With an inadequate and inefficient medical emergency response system (ERS) currently in India, our case fatality rates for road traffic accidents, cardiac and neurological issues remain significantly higher than those of the developed world. Because of the lack of efficient rescue systems during the "Golden Hour". StanPlus has developed an innovative, tech-enabled platform to send crisis responses and manage timely ambulance dispatches through its fleet of Red Ambulances, therefore discussing the above deficiencies. We believe this model could be rapidly scaled up across the nation and displays the potential to save millions of lives in the upcoming years. We are thrilled to support the company and look forward to supporting its objective of improving quality ERS across India."

Vani Kola, MD at Kalaaari Capital, said: ”Over the last two years, we have witnessed first-hand the importance of efficient healthcare infrastructure in India. While there have been many rumours around quick-commerce and 15-minute grocery delivery – StanPlus is one company making 15-minute emergency healthcare services a reality in India. We at Kalaari are humbled and proud to be a part of StanPlus very early on and are excited about the disruption StanPlus will bring to emergency healthcare."

Veda Corporate Advisors was the exclusive advisor to StanPlus and its shareholder in its Series A equity investment.