Healthcare provider Medulance secures $3M in Series A funding

Medulance, a healthcare service provider, has secured $3 million in Series A funding led by Alkemi Growth Capital. The round also saw participation from marquee investors including Dexter Capital, Aman Gupta, and Namita Thapar. 

The company plans to utilise the funds to increase its presence across the country while focusing on emergency management technology.

Pranav Bajaj, Co-founder and CEO of Medulance, said, “After running a profitable bootstrapped company for six years, Medulance has raised a Series A round of $3 million. This funding marks an important milestone for Medulance.”

He added that with the support of the investors, the company will focus on scaling up operations and further elevate the standards of emergency healthcare across India.

In the same vein, Ravjot Singh Arora, Co-founder and COO of Medulance, added, “Through this capital, Medulance would leverage the latest technology, including 5G  and smart remote monitoring, via its smart ambulances to create a 360-degree ecosystem by partnering with corporates, governments, and insurance companies.”

The startup wants to focus on users in Tier II and III cities, and plans to expand to over 1,000 cities in the next 15-18 months. It also aims to establish public-private partnerships to extend its services to more states in the coming years.

Additionally, it aims to further reduce emergency call answering time and emergency services response time in more than 500 cities in India.

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“The infusion of capital into Medulance will enable it to expand its fleet, enhance its technology infrastructure, and improve its response times. This investment will also support the company in recruiting and training qualified medical professionals to ensure the highest standards of patient care," Alka Goel, Founder of Alkemi Growth Capital, said.

Aman Gupta, Co-founder of boAt, added that supporting any emergency medical services innovator goes beyond mere financial investment. 

“It's about enabling communities, preserving lives, and contributing to a healthier future. It's about empowering communities, saving lives, and shaping a healthier future. Together, we're not just funding healthcare infrastructure; we're investing in hope, resilience, and the boundless potential of every individual,” he said.

The startup also recently launched Medulance Healthcare Academy, which aims to provide quality training to the paramedic force. It also aims to expand its education vertical and improve the standards of care through a highly trained paramedic workforce.

Highlighting the startup’s achievements, Arora shared that over the last six years, the startup has grown its fleet of ambulances to 10,000, reaching 500+ cities pan India and improving the dispatch time of emergency ambulances from 5 minutes to 2 minutes. Additionally, it has also brought the response time in cities like Delhi from 45 minutes to 11 minutes.