boAt's Aman Gupta, Alkemi Growth Capital, others invests $3M in Medulance

Medulance, an emergency healthcare service provider in India, has raised $3 million in a Series A funding round led by Alkemi Growth Capital.

The round also saw participation from notable investors such as Dexter Capital, Aman Gupta, and Namita Thapar. The funding follows a successful six-year period where the startup operated profitably without external financial support.

Enhancing emergency management technologies

The startup plans to use the raised capital for the enhancement of emergency management technologies and reducing emergency response times in over 500 cities across India.

Pranav Bajaj, Co-founder and CEO, said, “A wise man once said that next to creating a life, the finest thing a man can do is save one, and I think we never want to give up on what we believe we must do. After running a profitable bootstrapped company for 6 years."

Bajaj said the startup is poised to scale its operations and further elevate the standards of emergency healthcare across India.

What does Medulance do?

Founded in 2017 by Pranav Bajaj and Ravjot Singh Arora, Medulance offers comprehensive solutions for corporate and public healthcare needs. The startup recently unveiled a 5G-enabled 'Smart Medical Room' in Gurugram for corporate wellness by integrating advanced diagnostics and telemedicine

Expansion and technological advancements

Over the next 15-18 months, The startup aims to extend its reach to over 1,000 cities throughout the country. It plans to establish public-private partnerships to help expand services into 3-4 additional states. 

Ravjot Singh Arora, Co-Founder and COO, said, “In the last 6 years, we have grown our fleet up to 10,000 ambulances, reaching 500+ cities PAN India, and improving the dispatch time of emergency ambulances from 5 to 2 minutes. Medulance has also brought the response time in cities like Delhi from 45 minutes to 11 minutes."

He said the startup would leverage the latest technology, including 5G and smart remote monitoring via its smart ambulances, to create a 360-degree ecosystem by partnering with corporates, governments, and insurance companies.” 

Focused on quality and training

Notably, The startup will also invest in Medulance Healthcare Academy. The initiative is designed to address one of the sector's most pressing challenges: the quality training of its paramedic force.

By investing in education, Medulance intends to improve care standards and ensure that its expanding workforce is well-prepared to meet the demands of a broader operational footprint.

What did investors say about Medulance?

Anuradha Agrawal, General Partner at Dexter Ventures, said, “Having built and scaled Medulance profitably while being bootstrapped in a market filled with large players with strong footing, coupled with a strong clientele across govt bodies, corporate MNCs, etc is a strong testament of Pranav and Ravjot’s perseverance and execution skills. We are confident of the team’s capabilities to capitalize on this opportunity and become a top emergency medical services provider in the industry.”

Alka Goel, Founder of Alkemi Growth Capital, said, “The infusion of capital into Medulance will enable it to expand its fleet, enhance its technology infrastructure, and improve its response times. This investment will also support the company in recruiting and training qualified medical professionals to ensure the highest standards of patient care.”

Aman Gupta, Co-Founder of Boat, said, “Investing in an emergency medical services innovator like Medulance isn’t just about capital—it’s about empowering communities, saving lives, and shaping a healthier future. Together, we’re not just funding healthcare infrastructure; we’re investing in hope, resilience, and the boundless potential of every individual.”