Am­bu­lance firm StanPlus raises $1 m in seed fund­ing

The Hindu Business Line - - NEWS -

StanPlus, a Hy­der­abad-based med­i­cal trans­porta­tion startup, said on Thurs­day it has raised $1.1 mil­lion in seed fund­ing for a mi­nor­ity stake. The funds will help it scale up op­er­a­tions.

The lat­est round of in­vest­ment was led by Ks­tart (Kalaari Cap­i­tal’s seed fund), with par­tic­i­pa­tion from CM Dia­mant, a chain of med­i­cal cen­tres and hos­pi­tals in Canada and Africa, and INSEAD An­gels (Asia).

Prab­hdeep Singh, co­founder and CEO of StanPlus, said: “The amount in­vested will be used to in­crease our ad­vance-life sup­port fleet and ex­pand across ge­ogra­phies and to cover all med­i­cal trans­porta­tion cat­e­gories in the near fu­ture.”

Co-founder and COO An­toine Poir­son said StanPlus re­ceives about 60 calls a day. It has a fleet of 300 am­bu­lances, 60 am­bu­lance op­er­a­tors and 15 hos­pi­tals ac­count­ing for 2,000 beds that ex­clu­sively use its am­bu­lance net­work.

“StanPlus’s ap­proach to med­i­cal trans­porta­tion is en­ter­pris­ing,” said Muthiah Venkateswaran, Part­ner at Ks­tart, a seed fund ini­tia­tive of ven­ture cap­i­tal firm Kalaari Cap­i­tal.

StanPlus was founded in 2016 by three INSEAD MBA grad­u­ates — Singh, Poir­son and Jose Leon — with an aim to build In­dia’s largest am­bu­lance net­work.

With a prom­ise to serve re­quests within 15 min­utes of book­ing, StanPlus is cur­rently spread across eight cities in­clud­ing Hy­der­abad.

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