New Delhi-based startup Medulance founders Pranav Bajaj and Ravjot Singh Arora have received Rs 2 crore for 2% equity by Shark Tank India team- Namita Thapar (Emcure Pharmaceuticals), Aman Gupta (BoAt) and Peeyush Bansal (Lenskart), at a valuation of Rs 100 crore.

Recently, Medulance launched a 5G smart connected ambulance in collaboration with Reliance Jio that allows real-time, two-way audio and video communication, ambulance tracking and real-time streaming of patient health data to a distant doctor over the high-speed 5G network, changing the future of emergency health response services in the country.

The startup operates a fleet of 7,500+ ambulances in over 500 cities across India for fast and reliable first-point medical attention. The company generated a revenue of Rs 24 crore last year, with a 24% profit margin.

All the judges at the Shark Tank India platform were keen on using their expertise and business acumen to help Medulance grow and become a billion-dollar enterprise, achieving its aim of expanding to all tier-3 cities across India and South-East Asia.