PE-VC Fund Investments
Diagnostics labs chain Orange Health Labs raises $30-M led by Iron Pillar
Bengaluru-based diagnostics labs chain Orange Health Labs has raised USD 30 million in a Series C funding round led by Iron Pillar, with participation from existing investors Bertelsmann, Accel India, and General Catalyst. New investors Crescent Enterprises, Good Capital, and Paramark Frontier Fund also participated in the funding round. The investment values the company at about USD 205 million on a post-money basis.Founded in 2020 by Dhruv Gupta and Tarun Bhambra, the company operates a full-stack diagnostics platform that provides at-home sample collection for routine diagnostic tests. It plans to use the new funds to support operations and growth.Following the transaction, Accel India maintains its position as the largest external shareholder with a 15.49% stake, while Iron Pillar enters the cap table with an 8.0% stake.
Between Sep 2021 and Dec 2024, Orange Health Labs had attracted about $ 38 M from Accel India, Bertelsmann India Investments, General Catalyst Partners, Good Capital, Uncorrelated Ventures, Y Combinator Continuity Fund and Amazon.For FY25, Orange Health Labs had reported about INR 84 Cr in Operating Income and about INR 81 Cr in Net Loss.
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