Orange Health Labs, a diagnostics lab and healthcare platform, has raised $12 million in a financing round led by Amazon Smbhav Venture Fund. Existing investors such as Accel, General Catalyst, Bertelsmann India Investments, and Y Combinator took part in the round.
Earlier in June 2022, Orange Health raised $25 million in a Series B investment led by General Catalyst and Bertelsmann India Investments. Three months later, it unveiled its first employee stock option plan and a $1 million equity repurchase program. The firm has raised $47 million to date.
The new funds will be utilized to expedite product expansion, strengthen the workforce, and drive additional diagnostic innovation.
Orange Health, founded in December 2020 by Dhruv Gupta and Tarun Bhambra, is an on-demand diagnostic company that offers at-home sample collection in Bengaluru, Gurugram, Delhi, Noida, and Ghaziabad. It currently claims to have supplied diagnostic testing services to more than 1 million consumers.
Currently, it has six labs and collaborates with over 1,000 clinics.
According to Orange Health, it has grown threefold in the last two years and is on target to achieve 100% growth this year. The company also claims to have recently crossed the Rs 100-crore annual revenue run rate and achieved profitability in Bengaluru.
In April 2021, Amazon launched the $250 million Amazon Smbhav Venture Fund for Indian businesses, and it made its first investment in Gurugram-based MSME-focused finance startup M1xchange. The fund has also supported The Good Glamm Group, Cashify, Fitterfly, and Smallcase.
