StanPlus, the Hyderabad-based medical transportation startup, has raised $1.1 Million in seed funding for a minority stake, the company said.
The investment is being led by Kstart (Kalaari Capital’s Seed Fund) and co-invested by CM Diamant, a chain of medical centres and hospital in Canada and Africa, and INSEAD Angels (Asia).
“This fund will help the startup continue its growth in rapidly growing medical transportation industry in India,” said the company.
Speaking on the utilisation of the funding, Prabhdeep Singh, Co-Founder & CEO, said, “The amount invested will be used to increase our advance-life Support fleet, expand across geographies, innovate with cutting-edge technologies and to cover all medical transportation categories in near future.”
Antoine Poirson, Co-Founder & COO, said, “Our aim is to empower people during difficult situations. With this additional investment we would like to continue our remarkable growth of the last 1 year and supplement our vision and mission.”
The startup will use the additional investment to augment the technology. “There’s a lot that we are doing that has never been done before anywhere in the world,” said Jose Leon, Co-Founder & Technical Advisor.
“StanPlus’s approach to medical transportation is enterprising,” says Muthiah Venkateswaran, Partner at Kstart, a seed fund initiative of Kalaari Capital, one of India’s leading Venture Capital firms. “We are confident in their ability to achieve scale and successfully address the problem of lack of reliable medical transportation services across the all areas of healthcare.”