Orange Health Labs, an innovative diagnostics and healthcare platform, has raised $12 million in its fresh funding round led by Amazon Smbhav Venture Fund. The round also saw participation from existing investors, including Accel, General Catalyst, Bertelsmann India Investments, and Y Combinator.
The fresh funds raised will be used to accelerate product expansion, enhance its team, and drive further innovation in diagnostics.
The company has so far raised $47 million in funding, including the current round. This new funding builds on the company’s previous rounds, including a $25 million Series B funding in June 2022, led by General Catalyst and Bertelsmann India Investments.
“We believe India’s diagnostic market has the potential to grow to $40 billion by 2034, driven by increasing healthcare awareness and advancements in technology. At Orange Health, we see a pivotal shift where speed, accessibility, and quality are reshaping consumer expectations. Our mission is to bridge the gap between these expectations and service delivery,” said Dhruv Gupta and Tarun Bhambra, Founders at Orange Health Labs.
“Recently, we enabled consumers to get ECG tests from the comfort of their homes or collection centres and remain committed to driving greater availability and convenience for our customers,” the founders added.
“Our vision with the $250 million Amazon Smbhav Venture Fund is to empower the next generation of innovative startups led by strong founders. Dhruv, Tarun and their team at Orange Health Labs have created a robust diagnostics service and we are excited to back them for the next phase of their growth,” said Abhijeet Muzumdar, VP Corporate Development & Head of Amazon Smbhav Venture Fund.
Founded in December 2020 by Dhruv Gupta and Tarun Bhambra, Orange Health is an on-demand diagnostic service that provides home sample collection in Bengaluru, Delhi-NCR, Mumbai, and Hyderabad. The company says it ensures sample collection within 60 minutes and delivers most test results within 6 hours.
The company claims to have served over 1 million customers. Orange Health currently operates six labs and partners with over 1,000 clinics.
Orange Health has witnessed impressive growth, claiming a 3x increase in business over the past two years and targeting 100% growth this year. Recently, the company crossed an annual revenue run rate of ₹100 crore and achieved profitability in Bengaluru.
