Redcliffe Labs, a prominent PAN-India omnichannel diagnostics provider, has raised USD 42 million in its Series C funding round to strengthen its diagnostic network nationwide.
The company in a press statement on Wednesday informed that the funding was led by Denmark's Investment Fund for Developing Countries (IFU) with a commitment of USD 20 million, alongside existing investors LeapFrog Investments (USD 15 million), HealthQuad, and Spark Growth Ventures.
The funds will be instrumental in Redcliffe’s expansion into Tier II and Tier III cities, enhancing accessibility to quality diagnostics for underserved populations. The company aims to scale its network of labs, collection centres, and home collection services to deepen its presence in these regions. Additionally, Redcliffe is actively pursuing partnerships and acquisitions to increase market penetration.
The statement from the company further read that in order to support its growth trajectory, Redcliffe has also made key governance appointments. Ankur Shah, former Chief Finance & Strategy Officer of Careem, joins as an Independent Director. At the same time, Alka Saxena has been appointed Chief Financial Officer (CFO), bringing extensive experience from healthcare firms such as Health Care At Home (HCAH) and Dr Lal Path Labs.
Aditya Kandoi, Founder & CEO of Redcliffe Labs, commented on the development, “Our goal is to democratise access to high-quality, affordable diagnostics, particularly in Tier II and III cities. This funding round will allow us to expand our reach and provide advanced diagnostic services across India.”
IFU's Investment Director, Emil Sierczynski, noted, “Redcliffe's innovative approach aligns with our mission to drive social impact by enhancing healthcare access, especially in underserved communities across India."
