<ul><li><keyword id="7716660" type="General" weightage="100" keywordseo="pristyn-care" source="Orion">Pristyn Care</keyword>, a Gurugram-based health-tech startup, has reportedly laid off 300 employees.</li><li>The company has recently fired 45 employees, citing underperformance.</li><li>Pristyn Care is backed by investors such as <keyword id="122716" type="General" weightage="50" keywordseo="sequoia-capital" source="Orion">Sequoia Capital</keyword> and <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>.</li></ul>Gurugram-based health-tech startup Pristyn Care is the latest to join the list of companies laying off its workforce. In its latest round of layoffs, the company has fired 45 employees. The layoff wave has been arriving in ripples across the Indian companies after affecting thousands in the global market, including big names like <a href="https://www.businessinsider.in/tech/news/elon-musks-twitter-laid-off-more-than-90-of-staff-in-india-now-only-about-12-employees-remain-report-says/articleshow/95383606.cms">Twitter</a>, <a href="https://www.businessinsider.in/tech/news/meta-says-it-will-lay-off-more-than-11000-employees/articleshow/95405068.cms">Meta</a>, among many others. According to a<a href="https://inc42.com/buzz/exclusive-healthtech-unicorn-pristyn-care-trims-workforce-gst-officials-seek-clarity-on-biz-model/"> report</a> by Inc42, the Sequoia Capital and Tiger Global-backed health-tech firm has fired around 300 employees across departments in the last two months. <cmsannotation type="cmsannotation" annotationid="What does Pristyn Care do?" comment="subhead" text="What does Pristyn Care do?">What does Pristyn Care do?</cmsannotation> Pristyn Care is a health-tech company founded in 2018 by Dr <keyword id="345234" type="General" weightage="50" keywordseo="vaibhav-kapoor" source="Orion">Vaibhav Kapoor</keyword>, Dr <keyword id="12305824" type="General" weightage="50" keywordseo="garima-sawhney" source="Orion">Garima Sawhney</keyword>, and <keyword id="11127890" type="General" weightage="50" keywordseo="harsimarbir-singh" source="Orion">Harsimarbir Singh</keyword> that offers advanced secondary care surgeries across 800 hospitals, 200 clinics, and over 400 super-specialty surgeons. The company has so far <a href="https://www.businessinsider.in/business/startups/news/surgical-care-startup-pristyn-care-is-the-42-startup-to-be-valued-over-1-billion/articleshow/88157965.cms">raised</a> $177 million from Sequoia Capital, Tiger Global, Winter Capital and others. <cmsannotation type="cmsannotation" annotationid="15% of employees laid off" comment="subhead" text="15% of employees laid off">15% of employees laid off</cmsannotation> The fired employees make up around 15% of the company’s total workforce. The fired employees were junior and mid-level employees working in sales, administration, city teams, and others. The company has claimed that it has fired only 45 employees, and they were let-go due to underperformance. "We have a comprehensive performance evaluation process that helps us understand the efficiency levels across the board. This is a regular process and we found around 45 employees across the organization who were performing consistently below expectations and we had to part ways," a Pristyn Care spokesperson told Inc42. The company has, however, denied claims about a mass layoff and has claimed that it has hired over 300 employees in the last four months. The layoffs come at a time when the company is<a href="https://yourstory.com/2023/03/sequoia-backed-pristyn-care-lays-off-300-employees-shuts-medical-tourism-vertical"> reportedly</a> scaling down its international expansion segment focused on medical tourism. The segment reportedly failed to generate sufficient revenue. Pristyn Care is not the only healthcare startup that has laid off employees. Companies like PharmEasy, MediBuddy, and Innovaccer have recently announced layoffs. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/you-are-not-safe-from-air-pollution-anywhere-in-the-world-finds-a-new-study/articleshow/98471370.cms">You are not safe from air pollution anywhere in the world, finds a new study</a> <a href="https://www.businessinsider.in/business/auto/news/wedding-bells-ring-in-16-rise-in-february-auto-sales-2-wheeler-sales-yet-to-hit-pre-pandemic-levels-fada/articleshow/98443213.cms">Wedding bells ring in 16% rise in February auto sales, 2 wheeler sales yet to hit pre-pandemic levels: FADA</a> <a href="https://www.businessinsider.in/tech/gadgets/news/noise-and-fire-boltt-entered-in-top-five-in-global-smartwatch-shipments/articleshow/98171390.cms">These two Indian brands have together sold more smartwatches than Samsung in 2022</a>

Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months

<ul><li><keyword id="7716660" type="General" weightage="20" keywordseo="pristyn-care" source="Orion">Pristyn Care</keyword> has raised $96 million in funding at a valuation of $1.4 billion.</li><li>Pristyn Care’s Series E round was led by Sequoia Capital, Tiger Global and others.</li><li>It plans to increase its geographical footprint by expanding to over cities, and set up 1000+ surgical centres.</li></ul>Gurugram-based healthcare startup Pristyn Care, which offers affordable advanced surgical care, has raised $96 million in external funding at a valuation of $1.4 billion. It is the second Indian healthtech company to enter the unicorn club, after Innovaccer that was <a href="https://www.businessinsider.in/business/startups/news/india-saw-the-birth-of-two-new-unicorns-this-week-both-their-valuations-have-swelled-multiple-times-in-just-a-few-months/articleshow/81221476.cms">valued at $1.3 billion</a> in February 2021. A unicorn, in startup parlance, is a company valued at or over a billion dollars. Business Insider last week reported that Pristyn Care had become the <a href="https://www.businessinsider.in/business/startups/news/surgical-care-startup-pristyn-care-is-the-42-startup-to-be-valued-over-1-billion/articleshow/88157965.cms">42nd Indian unicorn</a>. Pristyn Care’s Series E round was led by Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures and Trifecta Capital. CRED’s Kunal Shah, Zomato’s Deepinder Goual, Urban Company’s Abhiraj Singh Bhal and Mamaearth’s Varun Alagh also participated in the round. It will use the capital to enhance its offerings by adopting the latest surgical technologies, expanding into new disease categories, strengthening and modernizing partner-hospital infrastructure, training its surgeons and further developing its product and technology. “We will continue to invest in newer, world-class surgical technology to ensure faster patient recovery, shorter hospital stay and the smoothest surgery experience possible for patients and their families,” Harsimarbir Singh, cofounder of Pristyn Care, added. The Gurugram-based company also plans to increase its geographical footprint by expanding to over 50 cities, and set up 1000+ surgical centres. A part of the funding will also be used to double its team size and hire for technology roles. The company has doubled its valuation since April 2021, when it raised <a href="https://www.businessinsider.in/business/startups/news/tiger-global-invests-in-healthcare-startup-pristyn-care-valuation-more-than-doubles-in-six-months/articleshow/82158467.cms">$53 million in Series D round</a>. Pristyn Care was founded in 2018 by Harsimarbir Singh, Vaibhav Kapoor and Garima Sawhney. The company has partnered with 150 clinics and 700 hospitals across 40 cities to provide surgeries and treatment for proctology, urology, ENT, vascular, gynaecology and more. The Gurugram-based company had reported a revenue of ₹25.78 crore in fiscal year 2020, with losses touching ₹33 crore. It has reported a profit of ₹2 lakh in FY2019 and revenue of ₹3.43 crore. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/state-bank-of-india-to-sell-stake-in-sbi-mutual-fund-ipo/articleshow/88292698.cms" data-type="tilCustomLink">SBI Mutual Fund to come up with an IPO; SBI to sell 6% out of 63% stake via the public issue</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-1rs-data-plan-recharge-benefits-cheapest-4g-data-plan/articleshow/88292543.cms" data-type="tilCustomLink">At ₹1, Reliance Jio’s latest data pack is the cheapest in the world – costs less than a packet of water</a> <a href="https://www.businessinsider.in/science/health/news/google-says-workers-that-those-who-do-not-comply-with-vaccination-policy-will-eventually-lose-their-jobs-cnbc/articleshow/88291338.cms" data-type="tilCustomLink">Google says workers that those who do not comply with vaccination policy will eventually lose their jobs: CNBC</a>

Surgical care startup Pristyn Care raises $96 million from Tiger Global, Sequoia

<ul><li><keyword id="260318" type="COMPANY" weightage="20" keywordseo="Tiger-Global-Management">Tiger Global Management</keyword> has led a $53 million round in healthcare startup <keyword id="7716660" type="COMPANY" weightage="20" keywordseo="Pristyn-Care">Pristyn Care</keyword>.</li><li>The series D funding round also saw participation from the startup’s existing investors <keyword id="122716" type="COMPANY" weightage="20" keywordseo="Sequoia-Capital">Sequoia Capital</keyword>, <keyword id="8462938" type="UNKNOWN" weightage="20" keywordseo="Hummingbird-Ventures">Hummingbird Ventures</keyword> and <keyword id="5998794" type="UNKNOWN" weightage="20" keywordseo="Epiq-Capital">Epiq Capital</keyword>.</li><li>With the latest investment, the startup’s valuation has more than doubled to over $550 million, from $250 million six months ago. </li></ul>US-based investment biggie Tiger Global Management has led a $53 million round in healthcare startup Pristyn Care. The series D funding round also saw participation from the startup’s existing investors Sequoia Capital, Hummingbird Ventures and Epiq Capital. With the latest investment, the startup’s valuation has more than doubled to over $550 million, from $250 million six months ago. Founded in 2018, by Harsimarbir Singh, Dr. Vaibhav Kapoor and Dr. Garima Sawhney, the startup specialises in surgeries with a stack of services. The services include diagnostics support, health-insurance claim processing, hospital admission paperwork, cab pick-up and drop for surgery, medicine delivery at home and free post-surgery consultation. The company claims to have a network of over 300 surgeons and has completed 300,000 surgeries through its platform. “By using technology to deliver differentiated experiences and outcomes, Pristyn Care has built the leading consumer-centric surgery provider in India. The market opportunity is huge, and we couldn't be more excited to partner with Harsimarbir (Singh) and his team,” said Scott Shleifer, of Tiger Global Management, in a statement. The startup offers over 50 surgeries and treatments, and is present in over 30 cities in India. With new funds in hand, Pristyn Care now aims to offer new surgery specialities with better patient care practices, advance medical technology and minimally invasive surgeries and to expand further in India. “With this new capital, we plan to expand our surgery offerings in more cities and towns and attract international patients seeking treatment in India, treat new disease lines, and invest in brand building. We run over 100 clinics and operate in over 400 hospitals to impart patient-first care for our surgery patients,” said Singh, in a statement. SEE ALSO: <a href="https://www.businessinsider.in/india/news/india-has-the-142nd-rank-of-the-180-countries-in-the-world-press-freedom-index-falls-behind-myanmar-sri-lanka-and-nepal/articleshow/82158331.cms">India still has the ‘bad’ classification in the World Press Freedom Index, falls behind Myanmar, Sri Lanka and Nepal</a> <a href="https://www.businessinsider.in/careers/news/for-saas-y-salaries-indian-engineers-are-skipping-the-traditional-it-services-queue/articleshow/82157280.cms">SaaS-y salaries are 30% more than traditional IT services — and they’re making it tougher for traditional IT service firms to find the right talent</a> <a href="https://www.businessinsider.in/science/health/news/if-you-are-18-years-or-older-you-can-get-a-covid-19-vaccine-from-may-1/articleshow/82147121.cms">If you are 18 years or older, you can get a COVID-19 vaccine from May 1</a>

Tiger Global invests in healthcare startup Pristyn Care, valuation more than doubles in six months

<ul><li>The company has raised around $85 million from Sequoia Capital and Tiger Global.</li><li><keyword id="7716660" type="General" weightage="20" keywordseo="pristyn-care" source="Orion">Pristyn Care</keyword> had raised $53 million in April 2021 at a $550 million valuation. </li><li>The company has partnered with 400 hospitals across 30 cities to provide surgeries and treatment.</li></ul>Gurugram-based healthcare startup Pristyn Care, which offers affordable advanced <keyword id="1912836" type="General" weightage="20" keywordseo="surgical-care" source="Orion">surgical care</keyword>, is the latest startup to enter the unicorn club, a source aware of the development told Business Insider. A unicorn, in startup parlance, is a company valued over a billion dollars. According to Pristyn Care’s regulatory filings, the company has raised around $85 million in a Series E round. Marquee investors Sequoia Capital, Tiger Global, Hummingbird Opportunity Fund and Amber Winter participated in the round. This is expected to be a part of a larger funding round. As per Entrackr’s <a href="https://entrackr.com/2021/12/pristyn-care-turns-unicorn-after-new-round/">calculations</a>, the company has raised this capital at a post money valuation of $1.3 billion. However, the source mentioned above said that the valuation may differ. Pristyn Care had raised <a href="https://www.businessinsider.in/business/startups/news/tiger-global-invests-in-healthcare-startup-pristyn-care-valuation-more-than-doubles-in-six-months/articleshow/82158467.cms">$53 million, in April 2021,</a> led by Tiger Global at a $550 million valuation. The company has planned to use this capital to expand into new geographies and new surgery specialties. The company’s previous press note had highlighted that it plans on conducting 80,000 surgeries and adding 200-300 more employees to its team this year. Pristyn Care was founded in 2018 by Harsimarbir Singh, Vaibhav Kapoor and Garima Sawhney. The company has partnered with 400 hospitals across 30 cities to provide surgeries and treatment for proctology, urology, ENT, vascular, gynaecology and more. The Gurugram-based company had reported a revenue of ₹25.78 crore in fiscal year 2020, with losses touching ₹33 crore. It has reported a profit of ₹2 lakh in FY2019 and revenue of ₹3.43 crore. The healthtech startup has close to 200 full-time surgeons who performed 20,000 surgeries in 2020. Pristyn Care is the 42nd startup to be valued over a billion dollars and enter the unicorn club in India in 2021. Other entries into the unicorn club include social media platform ShareChat, credit card payments platform CRED, merchant payments platform BharatPe and on-demand service platform Urban Company. SEE ALSO <a href="https://www.businessinsider.in/business/news/zoho-freshworks-and-top-indian-saas-companies-have-given-500-entrepreneurs-to-the-indian-startup-ecosystem/articleshow/88145310.cms" data-type="tilCustomLink">Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian startup ecosystem</a> <a href="https://www.businessinsider.in/investment/news/humanoid-robot-sophia-is-entering-the-metaverse-with-intelligent-nfts/articleshow/88156738.cms" data-type="tilCustomLink">Humanoid robot Sophia is entering the metaverse with ‘intelligent’ NFTs</a> <a href="https://www.businessinsider.in/policy/news/here-is-what-to-expect-from-the-rbi-monetary-policy-today/slidelist/88150941.cms" data-type="tilCustomLink">Six charts explain what the market expects from the RBI’s monetary policy review</a>

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Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months

Sourabh Jain

Surgical care startup Pristyn Care raises $96 million from Tiger Global, Sequoia

Kritti Bhalla

Tiger Global invests in healthcare startup Pristyn Care, valuation more than doubles in six months

Sanchita Dash

Surgical care startup Pristyn Care is the 42nd startup to be valued over a billion dollars in India this year

Kritti Bhalla