Healthtech unicorn Pristyn Care is reportedly in early discussions with investors to raise between $50-100 million in a new funding round. As per reports, the funding round is likely to close in the first half of 2025, and the funds raised are likely to be used to fuel the company’s growth.

Apart from that, Pristyn Care is looking forward to raising funds through an initial public offering (IPO) in the next three years. It has already consulted with bankers to smooth out the IPO process and is in talks with global investors, high-net-worth individuals, and family offices. The IPO would indeed cement its financial stability and pave the way for further innovation.

The three co-founders, Harsimarbir Singh, Dr. Vaibhav Kapoor, and Dr Garima Sawhney, started the company in 2018, but Pristyn Care has always been specific in secondary care surgeries. This has made it scale across 200 clinics, 700 hospitals, and over 400 in-house super-specialist surgeons, crossing 30 cities in India.

The company has not been immune to challenges in its quest to turn profitable. Inc42 reported in March 2024 that Pristyn Care had axed 120 employees as part of a restructuring exercise after laying off 300-350 employees in 2023.

Internationally, Pristyn Care penetrated the markets of Bangladesh in 2022 as it initiated operations in Dhaka and Chittagong. So far, the company has raised money worth $177 million and has achieved unicorn status after a $96 million Series E funding round at the end of 2021, partly through contributions from Peak XV Partners, Tiger Global, and Winter Capital.

Pristyn Care reported an operating revenue of INR 601 Cr for the financial year ending March 2024 (FY24), compared to INR 453 Cr in the previous year. The net loss marginally narrowed to INR 381 Cr from INR 383 Cr in FY23.

Pristyn Care’s ambitious plans, along with its continued focus on innovation, global growth, and operational efficiency, seem to be its determination to solidify its position as a leader in health tech.