StanPlus Raises $1.1M Funding Led by Kstart Capital (Kalaari), INSEAD Angels (Asia) & Others
StanPlus was founded in 2016 by three INSEAD MBA graduates - Prabhdeep Singh, Antoine Poirson and Jose Leon with an aim to build India's largest ambulance network dedicated to bringing quality and efficient ambulances services for emergency, non-emergency and afterlife support.
StanPlus, the Hyderabad based medical transportation startup today announced securing an investment of $1.1 million funding as Seed funding for a minority stake. This fund will help continue its aggressive scale-up in the rapidly growing medical transportation industry in India. The latest round of 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).
Speaking on the utilization of the funding, Mr. Prabhdeep Singh, Co-Founder & CEO says “The amount invested will be used to increase our Advance-Life Support fleet and expand across geographies, innovate with cutting-edge technologies and to cover all medical transportation categories in near future”
StanPlus receives an average of 60+ calls per day. With a fleet of 300+ Ambulances, 60+ ambulance operators on board, 15 hospitals accounting for 2000+ beds that exclusively use StanPlus’ highly dependable ambulance network, the company gives customers a single number access to every hospital’s ambulance.
Adding to this, Mr. Antoine Poirson, Co-Founder & COO says, “Our aim is to empower people during difficult situations. We see a huge gap in the ambulance transportation service from home to hospital and hospital to home especially in the non-emergency sector. In fact, our successful operations have only strengthened our relationship with private and general hospitals allowing them to focus on providing best care to patients, outsourcing logistics and transportation hassle to us. With this additional investment we would like to continue our remarkable growth of the last 1 year and supplement our vision and mission.”
Speaking on the technology front, “the additional investment would be utilized to augment our technology. There’s a lot that we are doing that has never been done before anywhere in the world ”, adds 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.”
Although the sector is in a very nascent stage, since its establishment in 2016, StanPlus has been revolutionizing the market with its standardization, processes, systems, quality, care and availability of trained staffs and paramedics on board.