Latest post
Bengaluru-based diagnostics startup Orange Health Labs has closed a new funding round of $12 million, led by the Amazon Smbhav Venture Fund. Existing investors, such as Accel, General Catalyst, Bertelsmann India Investments, and Y Combinator also participated, taking the company’s total fund raised since December 2020 to $47 million.
Revolutionizing the Diagnosis Landscape
Orange Health Labs has emerged within the diagnostics sector, offering innovative products and solutions that focus on speed, accessibility, and accuracy. It has set the standard in its industry by giving guarantees that samples will be collected within 60 minutes, with results delivered in just six hours. This model, focused on speed and reliability, supports it in meeting the need for speedy and reliable diagnostic services.
Orange Health Labs has already conducted over a million diagnostic tests. It operates in major cities such as Bengaluru, Delhi-NCR, Mumbai, and Hyderabad, serving an ever-growing consumer base with high-quality, time-efficient services. The diagnostics market in India is projected to reach $40 billion by 2034, providing the company with a tremendous growth opportunity, offering a competitive alternative to traditional diagnostic methods.
Expansion and Innovation with the Funding
The newly acquired $12 million in funding will be used to fuel Orange Health Labs’ expansion and further enhance its service offerings. More specifically, the funds will be put towards:
Expanding the Test Portfolio – The company intends to expand its scope of diagnostic tests, in the hope of reaching a broader medical requirement base.
Growing the Workforce: Orange Health Labs will double its team of phlebotomists in the space of a year to meet a tripling of demand within that period.
Increasing Number of Collection Centers: Increasing collection centers from 8 now to 30 by the end of this year will improve accessibility by the cities in which it works.
Building a New Testing Facility – A new testing facility in Bengaluru will be built to meet the increasing demand and raise operational capacity.
Omnichannel Services Development – The company aims to develop more convenient customer touchpoints through the enhancement of its omnichannel retail services, such as innovations like home-based ECG tests.
It will further fortify its company’s technology and innovations for smoother and efficient diagnostic procedures. The focus would now be on streamlining sample collection and testing services by using the home to strengthen this success that its current service options enjoy.
A Consumer-Centric Future for Diagnostics
Founded by Dhruv Gupta and Tarun Bhambra, former executives at Practo, Orange Health Labs is driven by a vision to transform diagnostics through customer-centric, efficient services. Since its launch, the company has achieved significant milestones, including achieving profitability in Bengaluru and surpassing an annual revenue run rate of ₹100 crore.
Gupta and Bhambra plan to fill the gap that exists between consumer expectations and health care delivery by offering prompt, accurate, reliable, and affordable diagnostic services. “Our goal is to redefine diagnostic services by focusing on speed, reliability, and convenience for our customers,” said the founders as they underscored commitment towards revolutionizing the industry.
Fast Growth and Market Expanding
Since its seed funding in 2020, Orange Health Labs has seen impressive growth. Over the past two years, its business has tripled, and it is now targeting another 100% growth in the current year. With more than 1 million customers served and partnerships with over 1,000 clinics, the company is rapidly scaling its operations. It currently operates six laboratories and is expanding its footprint across India to meet the growing demand for affordable and efficient diagnostics.
Apart from traditional diagnostic services, the company is investing in cutting-edge technology to provide value-added services such as a home ECG test, along with enhanced customer experience through its omnichannel retail strategy. This focus on innovation, technology-driven, has been pivotal to its growth trajectory so far and is expected to remain that way as the company scales.
