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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
In the past year, the Hyderabad-based startup doubled its workforce to expand. Now it is letting hundreds go as it faces harsh ground realities.
Antoine Poirson, Jose Leon and Prabhdeep Singh, who studied together at business school INSEAD, saw the gap in the ambulance service market in India and founded RED Health (then StanPlus) in 2016.
Their problem statement was simple: On average, an ambulance takes about 45 minutes to reach a patient in India. The startup—based in Hyderabad and led by Singh, a former pharmaceuticals executive, as CEO—rolled out with this proposition and slowly scaled up over years, raising a $1.2 million seed round in early 2020.
The COVID-19 pandemic followed shortly and the company’s business boomed, with revenue growing 2.9x to Rs …
