VedaCorp advises StanPlus, a leading technology driven ambulatory services startup, on its fund raise of INR 1200 mn from Healthquad, Kalaari and HealthX

Healthcare & Life Sciences

DATE January, 2022

TYPE Private Equity

About

StanPlus

Founded in 2016, StanPlus is India’s leading medical response company that provides end-to-end medical response solutions – ambulance services for both emergency and non-emergency transportation, and afterlife support services. The Company aims to be India’s largest ambulance network dedicated to bringing quality and efficient ambulances services across the country at the quickest possible time for patients.

Kalaari Capital

Kalaari Capital is an early-stage, technology-focused venture capital firm. They invest across Seed and Series A start-ups and empower visionary entrepreneurs building unique solutions that reshape the way Indians live, work, consume and transact.

Healthquad

Healthquad is India’s leading healthcare venture capital fund partnering with extraordinary entrepreneurs to nurture and scale-up transformative and impactful healthcare businesses in India. Healthquad invests across digital healthcare, med-tech, lifesciences, healthcare delivery and associated healthcare services. It is a venture capital firm run by Quadria Capital and has recently raised more than INR 1,100 crores as part of its new fund.

Background

We are pleased to announce that our client, StanPlus Tech Pte Ltd. (“StanPlus”) has raised INR 1,200 mn from Healthquad, Kalaari, HealthXCapital and other investors. The transaction is combination of primary capital into the Company and secondary purchase from few existing shareholders.

Founded by Mr Prabhdeep Singh, an INSEAD alumni and a seasoned healthcare professional, StanPlus is a technology driven emergency response solutions company that provides emergency ambulance services within 15 minutes. It has built the best-in world technology, protocols and infrastructure to effectively address the emergency responses. StanPlus operates across several large hospitals and enterprises in India, catering to patient needs for both emergency and non-emergency transportation requirements seamlessly.

The funds will help StanPlus in expanding its services of Red Ambulance brand from 5 cities to 15+ and scale its operations to 500+ hospitals. It will also enhance its technological capabilities with an eye on 8-minutes ambulance delivery service.

Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the Company and its shareholders. This marks VedaCorp’s 41st transaction in the healthcare space and further strengthens our new age franchise by successfully concluding one of the largest Series-A healthtech transactions in India.

“My experience with the team VedaCorp has been fantastic. Given their deep experience in the healthcare ecosystem, they generated strong interest from multiple investors and paved way for delivering the best outcomes for all stakeholders. They supported the StanPlus team through the entire process and closely engaged with existing shareholders & investors for a smooth closure.”

Mr. Prabhdeep Singh

Founder and CEO, StanPlus

“StanPlus is one of the fastest growing healthtech startups in India that is addressing a significant whitespace in patient management with regards to the timely ambulance dispatches. Large hospitals and MNCs in India are working with StanPlus on a SaaS model to further address their lacuna in emergency medical response system. StanPlus is led by a dynamic founder, Prabhdeep and a passionate team of technology & healthcare professionals.”

VP Rajan

Director, Veda Corporate Advisors