Kites Senior Care Thursday said it has raised Rs 45 crore in Series A round from Ranjan Pai’s Manipal Education and Medical Group (MEMG) Family Office Fund, a year after the startup secured $2 million (Rs 16.6 crore) from him.
The company is also raising around Rs 20 crore in debt from other existing investors for the current round of expansion, it told VCCircle.
Kites, which focuses on providing out of hospital geriatric care, plans to use the funds to increase its capacity by threefold to nearly 1,098 beds and to expand to Pune, Cochin and Coimbatore in the next 15 months, said Rajagopal G, co-founder and chief executive officer.