Companies

Medical transportation start-up StanPlus closes $1m funding

M Somasekhar Hyderabad | Updated on January 08, 2018

The latest round of investment is led by Kstart and co-invested by international hospital chain CM Diamant

StanPlus, the Hyderabad-based medical transportation start-up on Thursday announced securing an investment of $1.1 million as Seed funding for a minority stake.

The fund will help continue its scale-up in the 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 utilisation of the funding, Prabhdeep Singh, Co-Founder & CEO of StanPlus, says: "The amount invested will be used to increase our Advance-Life Support fleet and expand across geographies".

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 says its co-founder and COO, Antoine Poirson.

"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.

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. The firm is currently spread across 8 cities including Hyderabad, towns of Andhra Pradesh, Telangana.

Published on October 12, 2017

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