This makes it the latest entrant to the coveted
club, or those privately held companies valued at $1 billion or more.
The Gurugram-based company has raised $85 million from Sequoia Capital, Tiger Global, Winter Capital and other existing investors, the filings showed. It is in the process of filing documents for another $15 million – which it has already raised – taking the total funding to $100 million.
Sources said the company might look to extend the round by another $15-$20 million from a global investor.
“The company is considering a term sheet which might take the total round size to $120 million,” a person with knowledge of the development said.
ET was the
first to report about the company’s fundraising plans on October 13.
Sequoia India is already an investor in the company.
The three-year-old startup has seen its valuation double from April, when it
raised $53 million from investors led by Tiger Global, at a valuation of around $550 million.
In September 2020, the company had raised Rs 86.14 crore ($4 million) in Series C funding, led by Epiq Capital, in which Hummingbird Ventures, Redwood Trust and Sequoia Capital also participated.
The company — backed by Sequoia Capital, Epiq Capital and Greenoaks Capital — had raised $12 million in Series B funding in December 2019, while in June of the same year it raised $4 million as part of its Series A round.
Founded by Harsimarbir Singh, Vaibhav Kapoor and Garima Sawhney to provide patient-centric healthcare services from disease to health, Pristyn Care has grown 5x since January this year. The company aims to expand to 1,000 surgical centres across more than 50 cities.
It currently has 150 clinics, over 700 partner hospitals and more than 200 in-house super speciality surgeons for proctology, urology, ENT, gynaecology, vascular, laser, and laparoscopic surgeries.
The company operates in more than 40 cities including Delhi NCR, Hyderabad, Bengaluru, Chennai, Kolkata and Mumbai. It has consulted more than 1.7 million patients and is now a leader in secondary care surgeries. The company is also looking to facilitate $300 million patient financing by FY27, it said recently.
Pristyn is looking to build an ecosystem to deliver surgical care. Besides surgeries, the platform focuses on doctor’s consultations, hospital admissions and pre- as well as post-surgical follow-ups.
After the Covid-19 pandemic and resultant lockdowns hit the healthcare businesses, Pristyn took to telemedicine and online consultation and reopened its surgery vertical from June.
Healthcare and health tech companies have seen unprecedented growth due to the pandemic. In the recent past, health tech companies such as Visit, ConnectedH, HealthPlix, and mHealth have received early-stage funding from risk investors.
