Orange Health Labs Raises $30 Mn in Series C Round

The funding round also attracted participation from both existing and new investors. This comes about 18 months after the company's previous fundraising round.

According to regulatory filings, the company's board approved the issuance of 45.79 lakh Series C compulsorily convertible preference shares at a price of ₹604.72 per share.

Through this share issuance, Orange Health Labs will raise a total of Rs 277 crore to support its growth and expansion plans.

Iron Pillar is leading the funding round with an investment of ₹156 crore (around $16 million), while Crescent Enterprises is investing ₹37.7 crore.

Existing investors Bertelsmann, Accel India, and General Catalyst are also participating in the round with investments of ₹21.8 crore, ₹8 crore, and ₹1.8 crore, respectively.

New investors Good Capital and Paramark Frontier Fund have joined the round, investing ₹15.5 crore and ₹37 crore, respectively.

Founded in 2020 by Dhruv Gupta and Tarun Bhambra, Orange Health Labs is a diagnostics startup that offers on-demand health tests and home sample collection services.

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