PB Healthcare secures $218 million in seed funding from PB Fintech, General Catalyst
PB Healthcare Services Pvt. Ltd has secured seed funding of $218 million from global investment firm General Catalyst, PB Fintech Ltd and others, the startup said in a statement on Thursday.
In the seed funding round, which valued the healthcare venture at $243 million, PB Fintech invested $62 million for a 26% stake, while General Catalyst infused $50 million for 20.57%.
Incorporated on 1 January 2025, Gurugram-based healthcare firm will use the proceeds to set up a 1,000-bed hospital network in the National Capital Region and accelerate product development and technological innovation.
This is part of the startup's broader aim to build an end-to-end platform that integrates healthcare and insurance.
To be clear, PB Healthcare is a separate entity from listed PB Fintech, which owns Policybazaar and Paisabazaar. Though Yashish Dahiya, chairman and group chief executive of PB Fintech, is leading the venture, PB Fintech's role will be that of an incubator and not a long-term owner.
In 2024, Dahiya revealed his plans to enter the healthcare space through a one-time investment of up to $100 million for a 20-30% stake. He explained the new healthcare entity will eventually generate its own resources for growth and may attract investments from private equity firms and other financial institutions.
'Our vision is to create a truly integrated healthcare ecosystem where patients can experience frictionless, high-quality care. Our focus remains on building a tech-first healthcare platform that improves outcomes, enhances trust, and redefines the care journey for millions across India,' said Dahiya.
The company will improve long-term health outcomes, reduce avoidable surgeries, and deliver a more predictable, full-stack patient experience by operating its own hospitals, leveraging technology, analytics, and a preventive-care approach, PB Healthcare said in the statement.
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