PB Healthcare Services Pvt. Ltd. (PB Health) has managed to raise $218 million (around Rs 1,848 crore) in seed funding, with General Catalyst leading the first tranche. PB Fintech Ltd. also joined the funding round, as revealed in a regulatory filing.

After the announcement, PB Fintech's shares hit an intraday high of Rs 1,683, up 2.6% from the last close of Rs 1,640.20. Nevertheless, the stock is still down 22% since January and is trading at Rs 1,677.10, up 2.25%.

The capital will be used to build PB Health's first hospital network in the Delhi NCR area and to speed up product development and technological innovation. PB Health has the goal of building a unified healthcare platform combining medical treatment and insurance. By owning its own hospitals and applying technology, data analysis, and a preventive model of care, the company aims to improve long-term health results, reduce unnecessary procedures, and offer patients a smooth, end-to-end experience.

PB Health's vision is to create an interlinked healthcare ecosystem that provides high-quality, hassle-free care. The technology-powered platform aims to enhance health outcomes, build trust, and redefine the healthcare experience in India. PB Health will close the gap between insurance and healthcare delivery to make quality and accessible care a reality for millions.

Yashish Dahiya, Chairman & Group CEO, PB Fintech, said, "We went to the General Catalyst team for their rich investment experience and strong health tech understanding."