Focused on delivering quick and consistent medical assistance, Medulance is an ambulance service firm. Their helpline and excellent technical support has helped them to set a system guaranteeing ambulance service within twenty minutes. Medulance has drastically shortened response times with a fleet of 7,500 ambulances in 22 cities, lowering ambulance response times in Delhi from 35 minutes to only 11 minutes.
Medulance provide a selection of ambulances, including smart ambulances catered to the patient’s condition. They have assisted two lakh COVID patients as well as over 8 lakh others. Established in 2017, the company runs on a subscription basis offering MeduERS, Meduclinic, and MeduAlert. Eighty lakh members of their subscribers come from more than sixty companies.
Medulance has been profitable for the past three years; in the fiscal year 2021–22 they made ₹24 crores with a net margin of 24%. With a net margin of 18%, they made ₹15.7 crores in the preceding fiscal year, 2020–21. Their sales last month were ₹2.7 crores; with a 24% profit and 40% revenue increase expected for closing the current year. There are no past investors for this totally bootstrapped startup. Aiming for ₹250 crores in income over the next three years, Ravjot and Pranav share equal shares.
Company Name: Medulance
Founder: Pranav Bajaj and Ravjot Singh Arora
Product: Ambulance services
Highlights
1. 7,500+ ambulances spread over 500+ cities constitute an extensive network.
2. Artificial intelligence-based dispatching and real-time GPS tracking define tech-driven service.
3. Faster Response Time: Designed to have ambulances within minutes.
4. Basic life support, advanced life support, and air ambulances are among the several ambulances options.
5. Strong revenue model creates income via B2B and B2C channels.
6. Focused on growing to rural areas and tier-three cities, social impact
7. Corporate and Government Partnerships: Offers institutions emergency help.
Pitch Details
Ask: ₹2 crores for 1% equity, valuing the company at ₹200 crores.
Deal: After negotiation Namita Thapar, Aman Gupta and Peyush Bansal, finished the deal at ₹2 crores for 2% equity.
Investors: The investment came from Namita Thapar, Aman Gupta and Peyush Bansal.
Conclusion
Medulance’s pitch highlighted India’s rising demand for effective emergency medical care. As it grew to other areas, the company proved its capacity to use technology for life-saving actions. Particularly in underprovided communities, the founders stressed their objective of lowering response times and increasing accessibility. The sharks saw the potential in the company; some were surprised by its price. The business finally confirmed its strong market presence and growth potential by getting a strategic investment from several sharks. With this money, Medulance will be able to reach tier-3 cities, improve its offerings even more, and confirm its leadership in emergency response technologies.
