Surgery startup Pristyn Care turns unicorn, plans to expand to 60-70 cities
Published originally on 15th December 2021 in the online edition of the Economics Times.
Pristyn Care, a healthcare startup specialising in non-emergency surgeries, said that it will expand to 60-70 cities with the latest funds it raised. On Wednesday, the company said that it has raised $96 million in Series E funding, more than doubling its valuation in seven months to $1.4 billion. ET reported about the fundraising first on December 8, citing regulatory filings.
The latest round of funding was led by Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures and Trifecta Capital. Angel investors included Kunal Shah (founder and CEO, Cred), Deepinder Goyal (cofounder and CEO, Zomato), Abhiraj Singh Bhal (cofounder and CEO, Urban Company) and Varun Alagh (cofounder & CEO, Mamaearth).
In an exclusive interview with ET, founder Harsimarbir Singh said the company would include more types of surgeries in existing and new cities, expand into new disease categories, and double its 130-strong engineering team.
The company said it plans to increase its geographical footprint by March, by expanding to more than 50 cities and towns and more than 1,000 surgical centres.
Pristyn Care said that it has grown 5X since January 2021 and expects to be profitable in the next 12-18 months. Singh said that he expects the company to grow another 5X, if not more, next year. At present, it said it operates more than 150 clinics and 700 partner hospitals with a panel of over 300 doctors, who work exclusively for the company.
Its network currently spans seven metros – Mumbai, Pune, Delhi, Bangalore, Hyderabad, Chennai and Kolkata, and 33 tier II and III cities.
“With our expansion plans firmly in place and on track, we will accomplish our ambition of reaching more than 1,000 surgical centers and five million patient interactions by March 2022,” Singh said in a statement.
