India: Ratan Tata backs medical emergency response startup MUrgency

Ratan Tata

Sillicon Valley-based medical emergency response startup MUrgency has raised an undisclosed amount of funding from Ratan Tata, chairman emeritus of the Tata Sons.

This latest investment by Tata marks his fourth in overseas companies. Apart from MUrgency, Tata’s overseas investments include Boston-based wind energy startup Altaeros Energies, China’s largest smartphone maker Xiaomi and Singapore-based Crayon Data, a big data analytics firm.

Founded in 2014 in the Valley and incubated in Stanford ChangeLabs, the company launched its services in India in February 2016. In April, MUrgency raised funding from Infosys co-founders Kris Gopalakrishnan and S D Shibulal’s Axilor Ventures. The amount of funding from Axilor was also not disclosed.

“He (Ratan Tata) clearly wanted us to launch and grow the network in India first before taking it overseas. Tata’s investment in MUrgency will help attract leading talent to the company and major partnerships beyond India,” said Shaffi Mather, founder of MUrgency.

MUrgency, was first launched in Punjab earlier this year in February and claims to have developed a network of 36 hospital emergency rooms, over 40 ambulances and 350 medical professionals. MUrgency said that the average response time for patients seeking medical help during trial runs was less than 10 minutes.

The company plans to use this latest round of funding to expand its service to Amritsar and Jalandhar by the end of May and will service the entire state of Punjab by June.

MUrgency aims to make its service available across India by 2018 and across the world by 2020.

Tata, who emerged as one of the most active investors in the country has already made over 10 investments in startups in 2016 and over 30 investments so far.

It is also his fourth investment in the healthcare sector. He had previously invested in healthcare firms including LybrateSwasth India and Invictus Oncology.

Also Read:

India Dealbook: MUrgency, iCHR raise funds; US’ BIOWORLD Merchandising acquires Vox Pop

India: Lenskart gets Ratan Tata on board in latest funding round

Ratan Tata invests in Delhi-based Invictus Oncology

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.