Tiger Global leads funding round in Pristyn, valuation soars to $550 mn

Tiger Global leads funding round in Pristyn, valuation soars to $550 mn
(From left) Co-founders Vaibhav Kapoor, Harsimarbir Singh and Garima Sawhney  |  Photo Credit: Pristyn
20 Apr, 2021

Gurugram headquartered healthcare startup Pristyn Care has raised $53 million (Rs 397.25 crore) in a growth funding round, doubling its valuation to $550 million in six months.

Tiger Global Management led the round, dubbed Series D, which also saw participation from returning investors Sequoia Capital, Hummingbird Ventures and Epiq Capital.  

Pristyn Care said it will utilise the capital to foray into new surgery specialties, expand its geographical presence and build its brand.  

“With this new capital, we plan to expand our surgery offerings in more cities and towns and attract international patients seeking treatment in India, treat new disease lines, and invest in brand building. We run 100-plus clinics and operate in 400-plus hospitals to impart patient-first care for our surgery patients,” Pristyn co-founder Harsimarbir Singh said.

The company last raised funds in an internal round in September 2020 at a valuation of $250 million. The current round takes the total amount of equity capital raised by the company to $81 million.

Founded in 2018 by Singh, and doctors Vaibhav Kapoor and Garima Sawhney, Pristyn Care provides end-to-end surgical experience for elective surgeries, such as doctor’s consultation, diagnostic test booking, hospital admission, pre and post-surgery follow up, and insurance claims settlement and reimbursement.  

The platform provides its services in over 50 diseases and operates across 30-plus cities and towns.

“By using technology to deliver differentiated experiences and outcomes, Pristyn Care has built the leading consumer-centric surgery provider in India. The market opportunity is huge, and we couldn't be more excited to partner with Harsimarbir and his team,” Scott Shleifer of Tiger Global, said in the statement.

The healthcare sector, especially the e-pharmacy space, has witnessed increasing capital flow in the recent past.  

In February, digital healthcare platform MediBuddy raised $40 million led by InvAscent.