Indian Economy News

Ratan Tata invests in medical emergency response start-up MUrgency

Mumbai: US-based medical emergency response start-up MUrgency Inc. on Tuesday raised an undisclosed amount of funding from Ratan Tata, chairman emeritus of Tata Sons Ltd.

It had raised undisclosed amount of funding from Axilor Ventures Pvt. Ltd, set up by Infosys Ltd co-founders Kris Gopalakrishnan and S.D. Shibulal, in April.

The company is looking to use the funds to augment technology, scale operations and set up a emergency response network globally through appropriate partnerships.

“He clearly wanted us to launch and grow the network in India first before taking it overseas. Mr Tata’s investment in MUrgency will help attract leading talent to the company and major partnerships beyond India,” said Shaffi Mather who founded MUrgency Inc. in 2014.

The mobile app makes emergency response available with just one tap on a mobile phone in under nine minutes in urban areas. It launched services in India this February with a responder network of 36 hospital emergency rooms, over 40 ambulances and 350 medical professionals. The company plans to make its services available across India by 2018 and around the world by 2020.

For Ratan Tata, who has made more than 25 investments in start-ups in the last two years, this is the third investment in a healthcare start-up. He previously invested in Lybrate India Pvt. Ltd, an online doctor consulting start-up; Swasth India, a start-up which focuses on cancer treatment and health data analytics and Invictus Oncology, a cancer therapeutic start-up.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.