Diagnostic Platform 'Orange Health Labs' nets $12 million Fund from Amazon
A funding round led by Amazon Smbhav Venture Fund has raised $12 million for Orange Health Labs.
The round also included existing investors such as Accel, General Catalyst, Bertelsmann India Investments, and Y Combinator.
The Series B round led by General Catalyst and Bertelsmann India Investments raised $25 million for Orange Health in June 2022. It announced its maiden employee stock option plan and equity buyback program three months later. The firm has so far raised $47.5 million.
Product expansion, strengthening its team, and further innovation in diagnostics will be driven by the fresh proceeds.
The on-demand diagnostic firm Orange Health was launched in December 2020 by Dhruv Gupta and Tarun Bhambra. Currently, it claims to have provided diagnostic testing services to over 1 million customers.
Currently, it oversees six labs and has formed partnerships with more than a thousand health centers.
Orange Health claims that it has posted 3x growth over the past two years and is on track to achieve 100% growth this year. The firm asserts that it recently achieved a revenue level of Rs 100 crore and is also profitable in Bengaluru.
The first investment in Gurugram-based MSME-focused fintech startup M1xchange was made by Amazon in April 2021. The fund has backed The Good Glamm Group, Cashify, Fitterfly, and Smallcase as well.
Quick commerce is the biggest example of this in the last four or five years because consumers want things available to them at their convenience. Fast food is more important when you're sick than waiting 20 minutes for chips, according to cofounder Dhruv Gupta.
The round also included existing investors such as Accel, General Catalyst, Bertelsmann India Investments, and Y Combinator.
The Series B round led by General Catalyst and Bertelsmann India Investments raised $25 million for Orange Health in June 2022. It announced its maiden employee stock option plan and equity buyback program three months later. The firm has so far raised $47.5 million.
Product expansion, strengthening its team, and further innovation in diagnostics will be driven by the fresh proceeds.
The on-demand diagnostic firm Orange Health was launched in December 2020 by Dhruv Gupta and Tarun Bhambra. Currently, it claims to have provided diagnostic testing services to over 1 million customers.
Currently, it oversees six labs and has formed partnerships with more than a thousand health centers.
Orange Health claims that it has posted 3x growth over the past two years and is on track to achieve 100% growth this year. The firm asserts that it recently achieved a revenue level of Rs 100 crore and is also profitable in Bengaluru.
The first investment in Gurugram-based MSME-focused fintech startup M1xchange was made by Amazon in April 2021. The fund has backed The Good Glamm Group, Cashify, Fitterfly, and Smallcase as well.
Quick commerce is the biggest example of this in the last four or five years because consumers want things available to them at their convenience. Fast food is more important when you're sick than waiting 20 minutes for chips, according to cofounder Dhruv Gupta.
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