Orange Health Labs Raises Rs 277 Crore in Series C Funding
Orange Health Labs, a prominent diagnostics and healthcare platform, is set to acquire Rs 277 crore (around $30 million) through a Series C funding round, led by Iron Pillar India along with a number of existing backers. This influx of capital comes for the Bengaluru-based firm after a period of 18 months.
The board of Orange Health Labs has approved a special resolution for the issuance of 45,79,270 Series C compulsorily convertible preference shares at an issue price of Rs 604.72 per share to raise the targeted funds, according to a regulatory filing reviewed by Startup Superb. Iron Pillar will take the lead in this funding round with an investment of Rs 156 crore (approximately $16 million). Crescent Enterprises plans to invest Rs 37.7 crore, while existing investors Bertelsmann, Accel India, and General Catalyst will contribute Rs 21.8 crore, Rs 8 crore, and Rs 1.8 crore, respectively. Additionally, Good Capital and Paramark Frontier Fund will participate, investing Rs 15.5 crore and Rs 37 crore, respectively.
According to Startup Superb’s estimates, this latest funding round values Orange Health Labs at roughly Rs 1,950 crore ($205 million) on a post-money basis. After this allotment, Accel India will maintain its position as the largest external shareholder with a 15.49% stake, while new investor Iron Pillar India will secure an 8.0% stake in the company.
Previous Funding Rounds
Before this current round, Orange Health Labs raised nearly $50 million in funding. In 2024, the company successfully secured $12 million in a round led by Amazon Sambhav Venture Fund. Moreover, it raised $25 million during its Series B financing in 2022, led by General Catalyst and Bertelsmann India Investments.
Company Overview
Established in 2020 by Dhruv Gupta and Tarun Bhambra, Orange Health Labs runs a comprehensive diagnostics platform that provides on-demand health testing services, including at-home sample collection for a wide range of routine diagnostics.
While annual results for FY26 are pending, during FY25, the company reported a revenue of Rs 84 crore with a loss of Rs 81 crore.