26 July 2024
Online health platform MediBuddy, operated by Phasorz Technology Pvt Ltd, on Tuesday said it has bagged $125 million in a Series C funding co-led by Quadria Capital and Lightrock India.The fundraise was a mix of primary and secondary share sale, with less than 10% being secondary share sale, the company’s Co-Founder and Chief Executive Officer (CEO) Satish Kannan told VCCircle.Meanwhile, other existing investors Bessemer Venture Partners, India Life Sciences Fund III, Rebright Partners, JAFCO Asia, TEAMFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures and Alteria Capital also participated in the funding.
MediBuddy was founded in 2015 by Kannan and Enbasekar Dinadayalane, both IIT Madras alumni. Kannan hinted that the company may look for an initial public offering (IPO) in the next three years, without giving any more details MediBuddy in June 2020, had merged its health business with Doctor consultation platform DocsApp, after which they named the combined entity as Phasorz Technologies Pvt Ltd changing from Medi Assist Healthcare Services Private Limited.