Youngest healthtech unicorn Pristyn Care raises $96 million

Healthtech startup Pristyn Care on Wednesday announced it has raised $96 million in its Series E round, doubling its valuation in the last seven months to $1.4 billion and becoming a unicorn.

The latest round was led by Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures and Trifecta Capital.

In the pandemic, we have seen a boom in healthtech startups.

"The boom in healthtech start-ups was more visible during the pandemic. We at Pristyn care started in August 2018, much before the pandemic set in and our prime mover was the access gap that exists in our country," Pristyn Care Co-founder Harsimarbir (Harsh) Singh told IANS.

"Our intention of starting Pristyn Care was to ensure that quality secondary care surgery becomes available to more Indians. We are creating an ecosystem that includes best-in-class surgeons, using high-end equipment and facilitating end-to-end solutions," he added.

Individual investors in the round include Kunal Shah (Founder and CEO, CRED), Deepinder Goyal (Co-founder and CEO, Zomato), Abhiraj Singh Bhal (Co-founder and CEO, Urban Company) and Varun Alagh (Co-founder and CEO, Mamaearth).

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"We would continue to expand our services, both in width and breadth as we aim to bridge this accessibility gap. Availability of superior quality surgeries to patients in tier 2 and 3 cities would be a great service to our nation," Singh noted.

Pristyn Care said it will utilise new investment to enhance its offerings by adopting the latest surgical technologies, expanding into new disease categories, strengthening and modernizing partner-hospital infrastructure, training its surgeons and further developing its product and technology.

By March 2022, the company plans to increase its geographical footprint by expanding to more than 50 cities and towns and over 1,000 surgical centres. It is currently present in 40 cities and towns.

"The investment will help us enhance the surgery experience of our patients. We will invest in newer surgical technologies to provide world-class treatment and experience to our surgery patients," said Dr Vaibhav Kapoor, Co-founder, Pristyn Care.