VC Fund Investments
Ambulance aggregator StanPlus raises $20-M from HealthQuad, Kalaari, others
Hyderabad-based StanPlus, an online ambulance aggregator, has raised USD 20 million in equity and debt in a funding round led by HealthQuad, Kalaari Capital and HealthX Capital Singapore. Pegasus, the family office of Hiranandani Group; Sandeep Singhal, senior adviser at Avaana Capital, and other angel investors also participated in the fundraising. The debt was raised from N+1 capital. Veda Corporate Advisors were the financial advisor to the deal. StanPlus will use the new funds to scale operations to 500 hospitals and launch its flagship Red Ambulance brand in 15 cities. It currently operates in 5 cities. In March 2020, the company had raised USD 1.5 million, with participation from Hyderabad Angels. Prior to that, the company raised USD 1.1 million in seed funding from Kalaari's seed programme, KStart Capital.
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