Medulance posted a 7% rise in revenue in FY23, profits drop Medulance, a Delhi-based health tech company, reported a 6.9% revenue growth in FY23, reaching Rs 26.21 crore, driven primarily by its ambulance services. Founded by Pranav Bajaj and Ravjot Singh Arora, Medulance operates a fleet of 10,000 ambulances across India and offers services like teleconsultation, e-pharmacy, and elderly care. Despite the revenue increase, expenses rose by nearly 30% to Rs 23.90 crore, leading to a significant drop in profits by over 60%, down to Rs 2.23 crore. The company secured over Rs 25 crore in Series A funding led by Alkemi Growth Capital. Founders Arora and Bajaj each hold over 30% of the company’s shares. #TheKredible #Medulance #HealthTech #DelhiStartup #EmergencyServices #HealthcareInnovation #StartupIndia #HealthTechIndia #EPharmacy #StartupNews #News #IndianStartup https://thekredible.com/blogs/medulance-posted-a-7-rise-in-revenue-in-fy23-profits-drop