Practo is in advanced discussions to raise $100 Mn to $125 Mn in a pre-IPO round, which will be a mix of equity and debt
The round, which will be led by a global PE firm, will take Practo’s post-money valuation to $700 Mn
The healthtech startup, which was earlier eyeing a public listing this year, is looking to make its market debut in 2027
IPO-bound healthtech startup Practically is in advanced discussions to raise $100 Mn to $125 Mn in a pre-IPO round, which will be a mix of equity and debt, sources told Inc42.
A global PE firm will lead the funding round, which will also see participation from the startup’s existing investors, one of the sources said without disclosing the name of the new investor.
The funds will be raised at a post-money valuation of $700 Mn, the sources added.
Practo plans to use the fresh capital for expansion and acquisitions. The startup, which was earlier eyeing a public listing this year, is looking to make its market debut in 2027.
Questions sent to Practo didn’t elicit any response till the time of publishing this story.
Founded in 2008 by Shashank ND and Abhinav Lal, Practo helps patients find and fix appointments with doctors for online consultations, order medicines, and book diagnostic tests.
For doctors, clinics, and hospitals, the platform provides software solutions for practice management, including tools for scheduling appointments and managing patient records. It also operates 40 co-branded dermatology clinics across the country.
It last raised $32 Mn in funding in 2020 from Tencent, Peak XV Partners (then Sequoia), Z47 Partners (then Matrix Partners), and Sofina. Overall, it has raised nearly $230 Mn to date from investors like Russia’s Ru-Net, RSI Fund (from Japan-based Recruit), New York’s Thrive Capital, Capital G, and more.
Besides India, Practo also has operations in the US and the UAE. While it entered the UAE market last year, it began a pilot in the US in the same year. Now, it has over 2 Lakh doctors on its platform in the US and a GMV run rate of over $75 Mn in the country.
Practo turned EBITDA profitable in FY25. Cofounder and CEO Shashank, in an annual letter, said that the startup posted an operating EBITDA of ₹15 Cr on a revenue of ₹234 Cr in the previous fiscal year. Practo had posted an EBITDA loss of ₹17 Cr in FY24, while its top line stood at ₹240 Cr.
The startup said it audited over 1,000 healthcare establishments, along with more than 4 Cr clinical data points, during FY25. It claimed to have achieved a 180% year-on-year growth in its network, taking its hospital count beyond 1.5 Lakh.
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