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Redcliffe Lifetech Raises $ 61 Million from LeapFrog Investments

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LeapFrog Investments led a $ 61 million Series B investment for omnichannel diagnostics platform Redcliffe Lifetech, with participation from Healthquad, Schroders, LC Nueva, Growth Spark Ventures, and prior investors Chiratae Ventures and Alkemi Venture Partners.

Redcliffe plans to use the new funds to expand its geographic reach into tier II and III cities, according to the company.

The company has a fleet of 400 phlebotomists working in over 100 locations, collecting samples at customers' homes, as well as an offline network of 500 collection centers.

According to the firm, these services are 25-60 percent less expensive than typical competitors.

With a population of roughly 1.4 billion people, 65 percent of India's people still live in rural regions, and access to healthcare remains a barrier, according to the firm.

“Redcliffe is an exemplar of LeapFrog’s focus on digital-led and asset-light business models that enable access to essential healthcare services to emerging consumers,” says Biju Mohandas, partner and global co-leader for health investments at LeapFrog Investments.

The company's current annualized sales run rate, according to Jain, is roughly $ 55 - $ 60 million.

Redcliffe has 22 laboratories in 14 cities and was founded in 2018.

It also has a team of disease industry key thought leaders that supervise operations and quality.

With home sampling and an offline network of 500 collection stations, the company has a fleet of 400 sand flies operating in over 100 cities.

The company promises to be able to provide these services for 25-60% less than traditional competitors.

“Redcliffe is an exemplar of LeapFrog’s focus on digital-led and asset-light business models that enable access to essential healthcare services to emerging consumers,” says Biju Mohandas, partner and global co-leader for health investments at LeapFrog Investments.

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