PB Healthcare Services Secures $218 Million in Seed Round Funding

PB Healthcare Services has successfully closed the initial tranche of its seed round, raising an impressive $218 million. This funding event was spearheaded by General Catalyst, with additional contributions from PB Fintech and 20 other investors. While the company did not disclose extensive details about the round, an analysis of regulatory documents by Startup Superb has unveiled significant insights, including share breakdowns, ownership structure, and valuation.

Investment Breakdown in PB Healthcare Services

According to regulatory filings from the Registrar of Companies, PB Healthcare Services’ board allocated 18,96,60,000 shares at Rs 100 each, accumulating Rs 1,896.6 crore, approximately $220 million, over various tranches distributed among more than 20 stakeholders. The leading participant, PB Fintech, which is the parent firm of PolicyBazaar, invested Rs 539.4 crore, translating to around $62.7 million. General Catalyst followed with an investment of Rs 435 crore, equivalent to $50 million.

Think Investments and Faering Capital also played a crucial role, contributing Rs 235 crore ($27 million) and Rs 217.5 crore ($25 million), respectively. Carvesta Partners came aboard with Rs 60.85 crore, while ENAM Holdings added Rs 50 crore. The founders of PB Fintech, Yashish Dahiya and Alok Bansal, invested Rs 52.2 crore and Rs 26.1 crore, respectively, further enhancing the funding pool. A total of 15 other investors, including several angel investors, contributed to this round.

Utilization of Funds and Future Plans

The funds raised will be directed towards establishing PB Health’s inaugural hospital network in the Delhi NCR region, as well as advancing product development and driving technological innovation. Following the seed round, PB Fintech holds the most significant stake at 25.53%. General Catalyst owns 20.57%, while Think Investments and Faering Capital possess stakes of 11.11% and 10.29%, respectively. The co-founders of PB Fintech collectively hold 3.7%, with a 10.29% ESOP pool set aside for employees.

Startup Superb estimates that PB Healthcare Services is currently valued at Rs 2114.6 crore, roughly $246 million, following this allotment. Founded in 2025, PB Health aims to create a comprehensive healthcare platform that merges care with insurance through its own hospital facilities. The company is leveraging technology, data, and preventive care strategies to enhance patient outcomes and minimise surgical interventions.

Plans include developing a 1,000-bed hospital network across the Delhi NCR region and expanding gradually, streamlining claims processes while removing pre-authorisations to build trust among patients, insurers, and healthcare providers. Earlier this year, another healthcare startup, Pristyn Care, opened super-specialty hospitals in major metro cities, including Delhi, Gurugram, Hyderabad, and Kochi, with aspirations for further expansion.