Leading PAN-India omnichannel diagnostics service provider Redcliffe Labs, a Noida-based firm, has raised $42 million in Series C funding. Leading the investment round with $20 million is Denmark’s Investment Fund for Developing Countries, IFU (Investeringsfonden för Udviklingslande), followed by longtime supporter LeapFrog Investments with $15 million.
HealthQuad and Spark Growth Ventures, current shareholders, have committed the remaining funds. Redcliffe’s expansion objectives, which center on strengthening its position in Tier II and III cities throughout India, will be bolstered by this new infusion of funding.
Redcliffe plans to expand its home collection network and build additional labs and collection centers with the cash. The company is actively pursuing a Pan-India expansion through strategic partnerships and additional acquisitions, having successfully executed strategic acquisitions in North-Western India. To increase the availability of high-quality diagnostics throughout India and increase its market share, it is presently in advanced talks with possible partner diagnostic chains.
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The financing coincides with Redcliffe’s recent significant management and board appointments, which support the company’s objective of enhancing governance and fostering profitable growth. Ankur Shah, who has 27 years of experience, has joined as an Independent Director. He formerly served as Careem’s Chief Financial & Strategy Officer until Uber purchased the company. Alka Saxena, who brings 17 years of experience working with healthcare firms including Health Care At Home (HCAH) and Dr. Lal Path Labs in various leadership capacities as CFO, Head of Finance, Controls & Assurance, has also been selected as CFO. Saxena has 24 years of expertise in finance overall.
About Redcliffe Labs
Redcliffe Labs is India’s fastest-growing omnichannel Pan India diagnostic network, revolutionizing the diagnostic domain with its comprehensive portfolio approach. Its wide network of labs and collection centres across India follows stringent internal and external quality protocols to deliver accurate results to patients for preventive checkups and disease management.
