StanPlus raises $1.1 million funding led by Kalaari
Fund to augment operations, expansion and innovations
StanPlus, a Hyderabad based medical transportation startup secured a funding of $1.1 million seed funding for a minority stake, according to a press statement. This fund will help continue its aggressive scale-up in the rapidly growing medical transportation industry in India. The latest round of investment is being led by Kstart (Kalaari Capital’s Seed Fund) and co-invested by CM Diamant, a chain of medical centres and hospital in Canada and Africa, and INSEAD Angels (Asia).
Speaking on the utilization of the funding, Prabhdeep Singh, co-founder & CEO, said, “The amount invested will be used to increase our Advance-Life Support fleet and expand across geographies, innovate with cutting-edge technologies and to cover all medical transportation categories in near future.”
StanPlus receives an average of 60+ calls per day. With a fleet of 300+ Ambulances, 60+ ambulance operators on board, 15 hospitals accounting for 2000+ beds that exclusively use StanPlus’ highly dependable ambulance network, the company gives customers a single number access to every hospital’s ambulance.
Adding to this, Antoine Poirson, co-founder & COO, said, “Our aim is to empower people during difficult situations. We see a huge gap in the ambulance transportation service from home to hospital and hospital to home, especially in the non-emergency sector. In fact, our successful operations have only strengthened our relationship with private and general hospitals. This allows them to focus on providing best care to patients, outsourcing logistics and transportation hassle to us. With this additional investment we would like to continue our remarkable growth of the last one year and supplement our vision and mission.”
Speaking on the technology front, “the additional investment would be utilized to augment our technology. There’s a lot that we are doing that has never been done before anywhere in the world,” adds Jose Leon, co-founder & technical advisor.
“StanPlus’s approach to medical transportation is enterprising,” says Muthiah Venkateswaran, Partner at Kstart, a seed fund initiative of Kalaari Capital, one of India’s leading Venture Capital firms. “We are confident in their ability to achieve scale and successfully address the problem of lack of reliable medical transportation services across the all areas of healthcare."
StanPlus was founded in 2016 by three INSEAD MBA graduates - Prabhdeep Singh, Antoine Poirson and Jose Leon with an aim to build India's largest ambulance network dedicated to bringing quality and efficient ambulances services for emergency, non-emergency and afterlife support.
Do you think this bit of funding will give much-needed kick to medical transportation industry? Do share your views.