Healthtech Startup Pristyn Care turns Unicorn after $100 million funding led by Sequoia Capital
Health technology firm Pristyn Care raised roughly $100 million in its Series E round, headed by Sequoia Capital US, valuing it at $1.4 billion.
This makes it the newest member of the coveted unicorn club, which includes companies valued at $1 billion or more and are privately held.
According to the filings, the Gurugram-based firm has raised $85 million from Sequoia Capital, Tiger Global, Winter Capital, and other current investors. It is in the midst of filing documentation for a further $15 million in funding, bringing the total amount raised to $100 million.
According to sources, the company may seek an additional $15-$20 million in funding 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.
Sequoia India is already a shareholder in the firm. Since April, when it secured $53 million from investors led by Tiger Global for a valuation of about $550 million, the three-year-old business has seen its valuation double.
The company raised Rs 86.14 crore ($4 million) in Series C fundraising in September 2020, led by Epiq Capital and including Hummingbird Ventures, Redwood Trust, and Sequoia Capital.
Sequoia Capital, Epiq Capital, and Greenoaks Capital funded the startup, which raised $12 million in Series B funding in December 2019 and $4 million in its Series A round in June of the same year.
Pristyn Care, a patient-centric healthcare company founded by Harsimarbir Singh, Vaibhav Kapoor, and Garima Sawhney to deliver patient-centric healthcare services from disease to health, has expanded fivefold since January this year.
The company plans to open 1,000 surgery centres in more than 50 cities.
Delhi NCR, Hyderabad, Bengaluru, Chennai, Kolkata, and Mumbai are among the company's more than 40 locations. It has seen over 1.7 million patients and is currently a market leader in secondary care surgery. According to a recent announcement, the company plans to facilitate $300 million in patient funding by FY2.
This makes it the newest member of the coveted unicorn club, which includes companies valued at $1 billion or more and are privately held.
According to the filings, the Gurugram-based firm has raised $85 million from Sequoia Capital, Tiger Global, Winter Capital, and other current investors. It is in the midst of filing documentation for a further $15 million in funding, bringing the total amount raised to $100 million.
According to sources, the company may seek an additional $15-$20 million in funding 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.
Sequoia India is already a shareholder in the firm. Since April, when it secured $53 million from investors led by Tiger Global for a valuation of about $550 million, the three-year-old business has seen its valuation double.
The company raised Rs 86.14 crore ($4 million) in Series C fundraising in September 2020, led by Epiq Capital and including Hummingbird Ventures, Redwood Trust, and Sequoia Capital.
Sequoia Capital, Epiq Capital, and Greenoaks Capital funded the startup, which raised $12 million in Series B funding in December 2019 and $4 million in its Series A round in June of the same year.
Pristyn Care, a patient-centric healthcare company founded by Harsimarbir Singh, Vaibhav Kapoor, and Garima Sawhney to deliver patient-centric healthcare services from disease to health, has expanded fivefold since January this year.
The company plans to open 1,000 surgery centres in more than 50 cities.
Delhi NCR, Hyderabad, Bengaluru, Chennai, Kolkata, and Mumbai are among the company's more than 40 locations. It has seen over 1.7 million patients and is currently a market leader in secondary care surgery. According to a recent announcement, the company plans to facilitate $300 million in patient funding by FY2.
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