Orange Health Labs raises $30M Series C led by Iron Pillar
What's the deal? Orange Health Labs, a Bengaluru-based diagnostics platform, is raising US$37.6M (around $30 million) in a Series C round led by Iron PillarDealroom has a profile for this one. Try Dealroom → India.
Iron Pillar leads with US$21.2M, entering the cap table with an 8.0% stake.
Crescent Enterprises invests US$5.12M, while existing backers BertelsmannDealroom has a profile for this one. Try Dealroom →, Accel India, and General Catalyst contribute US$2.96M, US$1.09M, and US$244.4K, respectively. Good Capital and Paramark Frontier Fund add US$2.1M and US$5.02M.
The round values the company at approximately US$264.8M post-money. Accel India remains the largest external shareholder with a 15.49% stake.
Why now? The fresh capital arrives after an 18-month gap. The board passed a special resolution to issue 4,579,270 Series C compulsorily convertible preference shares at US$8.21 each.
Founded in 2020 by Dhruv Gupta and Tarun Bhambra, Orange Health runs a full-stack diagnostics platform offering at-home sample collection for routine testing.
What could go wrong? The startup is still burning cash. In FY25, it recorded revenue of US$11.4M against a loss of US$11M.
FY26 results are yet to be filed.
The signal: Investors continue to back India's on-demand diagnostics race, where speed and home convenience are key differentiators.
Orange Health has now raised nearly $80 million in total, having secured $12 million in 2024 led by Amazon Sambhav Venture Fund and $25 million in its 2022 Series B.
