Woman and child health care provider Cloudnine, has raised around $16.26 million (Rs 100 crore) in a Series B funding round from Sequoia Capital and Matrix Partners India and existing Series A investors.
Cloudnine also announced the launch of its new facility in Chennai, that will be focused on delivering services in maternal, neonatal, gynaecological and infertility care.
The company plans to use the newly raised funds for expansion in the southern and western regions of the country. It currently has 5 health care facilities in Bangalore and plans to set up 10 more centres through its expansion plans in the coming 2 years.
“Cloudnine has achieved and sustained a zero percent maternal mortality rate and a 99.72% survival rate for babies across 16000 deliveries. Our IVF success rates, too, are amongst the highest in the country at 42.31%. These rates compare favourably with those achieved in the most developed countries across the globe,” said Dr. Kishore Kumar, Chairman and Managing Director, Cloudnine.
The company was founded in 2007 by Dr. R. Kishore Kumar, a neonatologist.
Back in August 2011, Matrix Partners India had invested Rs 45 crores as the sole investor in the first...