2021 seems to be the hen that keeps giving golden eggs in the form of unicorns. More than three dozen Indian startups have attained a valuation of $1 billion or more this year, and the trend does not seem to end anytime soon. Health technology startup Pristyn Care, which helps patients book surgeries online, became the latest name on the list after it raised $100 million in its Series E round, making it the fourth healthtech unicorn this year.
The fundraise came to light through company’s financial documents with RoC. The development was first reported by Economic times.
The round was led by Sequoia Capital and valued the Gurugram-based startup at $1.4 billion. Marquee investors Sequoia Capital, Tiger Global, Hummingbird Opportunity Fund and Amber Winter also participated in the round. Its valuation has doubled since April when it was valued at $550 million after raising $53 million from investors.
Pristyn Care raised $85 million from Sequoia Capital, Tiger Global, Winter Capital and other existing investors, according to regulatory filings, and it is in the process of filing documents for another $15 million. Sequoia Capital invested $30 million, while Tiger Global and Amber Winter poured in $20 million and $15 million respectively.
The healthtech sector has grown exponentially as the pandemic saw people go online for telemedicine and online consultations. Pristine Care became the 42nd Indian startup to enter the coveted unicorn club this year, and the fourth healthtech unicorn in 2021, following the footsteps of Innovaccer, Cure.fit, and Pharmeasy.
The three-year-old Pristine, founded by Harsimarbir Singh, Vaibhav Kapoor and Garima Sawhney, deals with minimally invasive medical and surgical interventions. It currently has 150 clinics, partnered with over 700 hospitals and more than 200 in-house super speciality surgeons (who performed 20,000 surgeries in 2020) to provide patient-centric healthcare services, including proctology, urology, ENT, gynaecology, vascular, laser, and laparoscopic surgeries and more, and has clocked a growth of five times since January, and has clocked a growth of five times this year. It plans to expand to 1,000 surgical centres across more than 50 cities.
It offers affordable advanced surgical care to patients through innovative surgical techniques and recovery measures and is currently present in over 40 cities including Delhi NCR, Hyderabad, Bengaluru, Chennai, Kolkata and Mumbai. It is currently expanding its services to Tier II and Tier III towns across the country.
