Orange Health Labs, a diagnostics and healthcare platform, is raising Rs 277 crore (around $30 million) in a Series C funding round led by Iron Pillar India, along with several existing investors. The fresh funds are coming for the Bengaluru-based firm after the gap of 18 months.
The board of Orange Health Labs has passed a special resolution to issue 45,79,270 Series C compulsorily convertible preference shares at an issue price of Rs 604.72 per share to raise Rs 277 crore, according to a regulatory filing reviewed by Entrackr.
Iron Pillar will lead the round with an investment of Rs 156 crore (approximately $16 million). Crescent Enterprises will invest Rs 37.7 crore, while existing investors Bertelsmann, Accel India, and General Catalyst will participate with Rs 21.8 crore, Rs 8 crore, and Rs 1.8 crore, respectively.
Good Capital and Paramark Frontier Fund will also join the round, investing Rs 15.5 crore and Rs 37 crore, respectively.
As per Entrackr’s estimates, the fresh round values Orange Health Labs at approximately Rs 1,950 crore ($205 million) on a post-money basis.
Following the allotment, Accel India will remain the company's largest external shareholder with a 15.49% stake. New investor Iron Pillar India will enter the cap table with an 8.0% stake.
Prior to this round, Orange Health Labs had raised nearly $50 million in funding. In 2024, the company secured $12 million in a round led by Amazon Sambhav Venture Fund. It also raised $25 million in its Series B round in 2022, led by General Catalyst and Bertelsmann India Investments
Founded in 2020 by Dhruv Gupta and Tarun Bhambra, Orange Health Labs operates a full-stack diagnostics platform offering on-demand health testing services. The startup provides at-home sample collection for most routine diagnostics.
While the company is yet to file its annual results for FY26, during FY25, it recorded a revenue of Rs 84 crore with a loss of Rs 81 crore.
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