Pristyn Care in talks to raise up to $100 million in a new funding round

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Subscribe to enjoy similar stories. BENGALURU : Peak XV Partners-backed health-tech firm Pristyn Care is in early talks to raise up to $100 million from new and existing investors in a largely primary round, three people close to the development told Mint. "It is likely to be between $50-100 million that will materialize sometime in the first half of next year," one of the people said. The person added that the company, whose valuation is yet to be decided, plans to use the proceeds for its expansion.

The health-tech firm has also engaged with bankers to help with the fundraiser and is in active discussions with global investors, high-net-worth individuals, and family offices, the second person said, adding that it also has plans to go public over the next three years. Pristyn Care did not immediately respond to Mint's requests for comment. The development comes three years after the company raised $100 million in its series E funding round, which saw participation from Tiger Global Management, Hummingbird Ventures, and Epiq Capital Advisors, among others.

In 2021, it also entered the coveted unicorn club, as the transaction happened at a post-money valuation of $1.4 billion, according to market intelligence provider Tracxn. Peak XV is the largest institutional shareholder in the company. Some of its other backers include Trifecta Capital, Dream Duo, QED Innovation Labs, Amber Winter, First Lap, and Rockstone Ventures.

Broadly, India is seeing a growing appetite for investments in the healthcare sector. Several private equity firms, including Quadria Capital and ChrysCapital, have expressed interest in ramping up allocations to various healthcare subsegments. With hospital chains expanding beyond the metros, other large