Orange Health Labs raises $30M Series C led by Iron Pillar
Orange Health Labs, a Bengaluru-based diagnostics platform, is raising Rs 277 crore (around $30 million) in a Series C round led by Iron Pillar India.
Iron Pillar leads with Rs 156 crore (approximately $16 million), entering the cap table with an 8.0% stake.
Crescent Enterprises invests Rs 37.7 crore, while existing backers Bertelsmann, Accel India, and General Catalyst contribute Rs 21.8 crore, Rs 8 crore, and Rs 1.8 crore, respectively. Good Capital and Paramark Frontier Fund add Rs 15.5 crore and Rs 37 crore.
The round values the company at approximately Rs 1,950 crore ($205 million) post-money. Accel India remains the largest external shareholder with a 15.49% stake.
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 Rs 604.72 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.
The startup is still burning cash. In FY25, it recorded revenue of Rs 84 crore against a loss of Rs 81 crore.
FY26 results are yet to be filed.
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.
