Orange Health Labs Secures Fresh Capital After 18 Months
Diagnostics and healthcare startup Orange Health Labs is set to raise Rs 277 crore (around $30 million) in a Series C funding round led by growth stage investor Iron Pillar India. The round also includes participation from several existing investors, marking the Bengaluru based company’s first major fundraise in nearly 18 months.
According to regulatory filings reviewed by Entrackr, the board of Orange Health Labs has approved a special resolution to issue 45.79 lakh Series C compulsorily convertible preference shares (CCPS) at an issue price of Rs 604.72 per share to raise the fresh capital.
The funding comes as healthcare and diagnostics startups continue to attract investor interest amid growing demand for technology driven healthcare services and at-home diagnostic testing across India.
Who Is Investing In The Round?
Iron Pillar will emerge as the lead investor in the Series C round with an investment of Rs 156 crore, accounting for more than half of the total fundraise.
Other participants include Crescent Enterprises, which will invest Rs 37.7 crore, while existing backers Bertelsmann, Accel India, and General Catalyst will contribute Rs 21.8 crore, Rs 8 crore, and Rs 1.8 crore respectively.
Additional participation will come from Good Capital and Paramark Frontier Fund, investing Rs 15.5 crore and Rs 37 crore respectively.
According to Entrackr estimates, the fresh funding round values Orange Health Labs at approximately Rs 1,950 crore (around $205 million) on a post-money basis.
Following the allotment, Accel India will continue to be the largest external shareholder with a 15.49% stake, while Iron Pillar will enter the cap table with an ownership stake of approximately 8%.
What Does Orange Health Labs Do?
Founded in 2020 by Dhruv Gupta and Tarun Bhambra, Orange Health Labs operates a full stack diagnostics platform focused on delivering convenient and technology-enabled healthcare services.
The company specializes in at-home sample collection and diagnostic testing, allowing customers to book tests online and receive healthcare services without visiting a laboratory or hospital.
Its platform covers routine health checkups, preventive diagnostics, blood tests, and other pathology services. By combining logistics, technology, and diagnostics infrastructure, the startup aims to make healthcare testing faster, more accessible, and more convenient for consumers.
The company operates on a model similar to quick-commerce platforms, emphasizing rapid sample collection and faster report delivery.
Funding Journey So Far
Prior to this round, Orange Health Labs had raised nearly $50 million from investors.
In 2024, the company secured $12 million in funding led by Amazon Sambhav Venture Fund. Earlier, in 2022, it raised $25 million in its Series B round led by General Catalyst and Bertelsmann India Investments.
The continued participation of existing investors in the latest round signals confidence in the startup’s business model and growth prospects.
Financial Performance And Growth Outlook
Orange Health Labs is yet to file its financial results for FY26. However, during FY25, the company reported revenue of Rs 84 crore while recording a loss of Rs 81 crore.
Like many high-growth healthcare and technology startups, the company continues to invest aggressively in expansion, customer acquisition, operational infrastructure, and technology development.
The fresh capital is expected to support geographic expansion, strengthen diagnostic capabilities, improve technology infrastructure, and accelerate customer growth across key urban markets.
With India’s diagnostics market witnessing rapid digitization and increasing consumer preference for home-based healthcare services, Orange Health Labs is positioning itself to capitalize on the growing demand for convenient and technology-enabled diagnostic solutions. The Series C funding round could provide the company with the resources needed to scale operations and strengthen its position in the competitive healthtech ecosystem.
