Redcliffe Lifetech (Redcliffe) has raised $61 million in Series B funding. Led by LeapFrog Investments (LeapFrog), the spherical noticed participation from Healthquad, Schroders, LC Nueva, Growth Spark Ventures and present traders Chiratae Ventures and Alkemi Venture Partners. While O3 capital acted as monetary advisor on the transaction.
Preventative drugs helps to empower the common Indian with the knowledge they should take cost of their well being and wellbeing, Dheeraj Jain, founder, Redcliffe Lifetech, mentioned. “Redcliffe has built a one-stop diagnostic shop offering a wide selection of tests to choose from and delivering care closer to the customer. This investment will help us scale to achieve our goal to reach over 500 million Indians within the next five years,” he added.
The firm goals to make use of the proceeds from the fund to broaden Redcliffe’s geographical attain throughout India, with a deal with increasing its direct to client (D2C) diagnostics into tier 2, 3 and 4 cities, offering pathology providers. Additionally, the funding can be used to scale Redcliffe’s platform and improve its product choices to radiology, illness knowledge profiling and way of life administration, furthering its mission to shift India’s healthcare focus from therapy to early analysis and prevention.
For Biju Mohandas, companion and international co-leader, well being investments, LeapFrog Investments, the diagnostic platform is an exemplar of LeapFrog’s deal with digital-led and asset-light enterprise fashions that allow entry to important healthcare providers to rising customers. “Its disruptive approach is transforming healthcare in the region by bringing consumers closer to the point of care and removing barriers to access. Furthermore, Redcliffe’s vision of shifting healthcare from treating the sick to enabling wellness will have implications for millions,” he said.
Redcliffe operates on the intersection of healthcare and expertise, creating options that deal with challenges within the Indian market, Ranjith Menon, companion, Chiratae Ventures, mentioned. “It has built a proprietary technology platform for outstanding consumer experience also enabling scaling of its operations at its labs, fulfilment and overall CRM,” he highlighted.
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Source: www.financialexpress.com”