India Dealbook: Medical transport startup StanPlus, MFI Satya Micro raise funds

While medical transportation startup StanPlus has raised $1.1 million seed funding, micro-finance company Satya Micro Capital has got $2.5 million in equity financing.

Medical transport startup StanPlus raises $1.1m from Kstart, others

Hyderabad-based medical transportation startup StanPlus has raised $1.1 million in a seed funding round led by Kstart, Kalaari Capital’s seed fund.

The round also saw participation from  CM Diamant, a chain of medical centres and hospital in Canada and Africa, and
INSEAD Angels (Asia), according to an official statement.

“The amount invested will be used to increase our Advance-Life Support fleet and expand across geographies, innovate with cutting-edge technologies and to cover all medical transportation categories in near future,” said Prabhdeep Singh, Co-Founder and CEO StanPlus said.

Founded in 2006, StanPlus currently offers ambulance services across eight cities including Hyderabad, and towns of Andhra Pradesh and Telangana.

Micro-finance firm Satya Micro raises $2.5m funding

Micro-finance company Satya Micro Capital has raised Rs 16 crore ($2.5 millon) in equity financing from Dia Vikas Capital, a subsidiary of Opportunity International Australia, according to a report in The Economic Times.

The micro-lender plans to use this latest funding to expand its operations to over 35 districts across seven states in the next six months. It currently operates in six states: Haryana, Punjab, Uttarakhand, Chhattisgarh, Uttar Pradesh and Rajasthan.

“With adoption of modern technology and digitisation, Satya has been growing at a rapid pace by offering loans for livelihood and entrepreneurial purposes in rural areas. Having covered 28 districts in six states, we plan to venture into less financially-penetrated states in the coming year,“ said Vivek Tiwari, managing director of Satya Micro Capital.

Satya Micro claims to have disbursed Rs 100 crore capital to 35,000 customers within 10 months of commencing operations. It currently operates in six states: Haryana, Punjab, Uttarakhand, Chhattisgarh, Uttar Pradesh and Rajasthan.

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