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Medulance has raised 2 crores at 2% equity from shark tank season 2. Namith, Aman, and Peyush invested in this startup. The pitchers asked for 2 crores for 1% equity of the company at the valuation of 200 crores.
Namita and Aman offered 1 crore for 1% equity and 1 crore for debt. Amit offered 5 crores for 10% equity. Later revised, it was for 5 crores at 5% equity. Namitha, Aman and Peyush came together for an offer of 1 crore for 1% equity and 1 crore at debt. Pitchers revised their offer for 2 crores at 1.5% equity. The trio of sharks changed their offer for 2 crores at 2% equity.
Also Read CureSee has raised 50 lakhs rupees in exchange for 10% equity in the company. Peyush invested in this startup.
About Medulance
The founders of the company are Ravjot Singh Arora and Pranav Bajaj. They are from Delhi. They met each other through a mutual friend. Pranav began his career in 2012 with a startup company called Zomato. Navjot completed his schooling in Delhi and his engineering in Faridabad. He joined a family business that made Nike shoes. Navjot’s grandfather died as a result of inadequate ambulance service. Their equity is split 50/50.
Nowadays, everything is available instantly with a single click, from electrical appliances to food, groceries, and even a life partner. When it comes to emergency medical services, however, nothing comes quickly. In India, approximately 30% of people died due to ambulances not arriving on time. Medulance has arrived to help with all of this. Medulance, with its helpline and backup technology, typically dispatches an ambulance within 20 minutes. It collaborates with corporate partners. It offers three subscription-based services. They are as follows:
- MeduERS- MeduERS Stationed Ambulance Service, where the ambulance is already stationed.
- MeduClinic- Medical room service provided by MeduClinic. A medical room staffed by doctors and paramedics is already in a residential area or incorporated for first aid or basic life support services.
- MeduAlert- This is a well-known service. Covers corporate employees and their four dependents. This provides a specific ambulance or helpline number specific to every organisation.
Medulance Business Statistics:
Medulance began in 2017. They have a network of 7500 smart ambulances in over 60 cities. They saved 8 lakhs and helped 2 lakh patients. In Delhi, the response time has been reduced from 35 to 11 minutes. They intend to help people in every part of India. They collaborate with 60 corporate partners and have 80 lakh employees as subscribers for their Medu Alert service.
They made 24 crores in sales from 2021 to 2022. In the same year, the net margin was 24%. They made 15.7 crores in sales from 2020 to 2021. In the same year, the net margin was 18%. Sales were 2.7 crores last month. The sales forecast for FY 22-23 is 40 crores. This year’s profit is expected to be 24%. Their company is entirely self-funded and has never received outside funding.
What Problem Do They solve?
Medulance Legal Name Medulance Healthcare Pvt. Ltd., started in Delhi. The business is expanding into four business models, B2C, B2B, B2B2C, and B2G, providing more efficient medical solutions with the help of technology and network. In recognition of the Medulance Air Ambulance, the concept incorporates facilities such as ventilators, ECG, stretchers, Mortuary Chamber and other monitoring equipment, along with CPR kits to handle emergencies. Medulance is the leading technology-enabled comprehensive emergency response service provider with the definition of presenting responsible healthcare business to India. They provide the necessary support and service to the four types of ambulances with health and timely competence; Basic Life Support, Advanced Life Support and Mortuary Van / Ambulance – Mortuary Van.
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