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Medulance is a startup founded by Ravjot Singh Arora and Pranav Bajaj in Delhi. The idea for Medulance was born out of Navjot's personal experience of losing his grandfather due to a lack of proper ambulance service. The founders decided to solve this problem by creating a service that provides emergency medical services quickly and efficiently.
Medulance offers a range of services to its customers, including MeduERS, Stationed Ambulance service, MeduClinic, and MeduAlert. The MeduERS service provides an ambulance in 20 minutes on average, and the Stationed Ambulance service has an ambulance already stationed in a particular location. MeduClinic offers medical rooms with doctors and paramedics set up in residential areas or incorporated for first aid or basic life support services. MeduAlert is a subscription-based service that covers corporate employees and their four members and provides a specific ambulance or helpline number specific to every organization.
The aim of Medulance is to provide emergency medical services quickly and efficiently, with the goal of saving lives. The founders of the startup, Ravjot Singh Arora and Pranav Bajaj, were inspired to create the company after experiencing a personal tragedy due to a lack of proper ambulance services.
Medulance aims to address the problem of unavailability of ambulances on time in India, which is a critical issue that has led to many deaths. The company's services, such as MeduERS, Stationed Ambulance service, MeduClinic, and MeduAlert, are designed to provide timely medical assistance to those who need it.
The company's mission is to make emergency medical services available to everyone, regardless of their location or financial status. Medulance strives to provide its services to every part of India, and its network of ambulances and smart ambulances is present in more than 60 cities.
In addition to providing emergency medical services, Medulance also aims to create a positive impact on society. The company has saved 8 lakhs and assisted 2 lakh covid patients, which is a significant contribution towards the fight against the pandemic.
The business model of Medulance is based on providing emergency medical services to customers through a subscription-based model. The company offers three services through its subscription plans, which are MeduERS, Stationed Ambulance service, and MeduClinic. These services are designed to provide fast and efficient medical assistance to those in need.
The company offers three different services through a subscription model. The first service is called MeduERS, which is a stationed ambulance service where the ambulance is placed on location already. The second service is called MeduClinic, which is a medical room service that offers first aid or basic life support services. The third and most prominent service is called MeduAlert, which covers corporate employees and their family members. This service provides a specific ambulance or helpline number specific to each organization.
The business model of Medulance is primarily based on a subscription model for its three services. The company has partnered with corporate organizations to provide its services to their employees and their families. This partnership model allows Medulance to tap into a large customer base without having to spend a significant amount on marketing or advertising. In return, corporate partners can provide their employees with a valuable benefit that addresses a critical need.
The target market for Medulance includes individuals and corporate organizations in India who require emergency medical services. The company's focus is primarily on the urban population, where the demand for emergency medical services is highest. According to statistics, around 30% of people in India die due to unavailability of ambulances on time, and this problem is particularly acute in cities, where traffic congestion and lack of infrastructure can make it challenging for ambulances to reach patients in a timely manner.
Medulance's services are particularly attractive to corporate organizations, who are looking to provide their employees with valuable benefits. The MeduAlert service, which covers corporate employees and their family members, is an essential benefit for companies that prioritize employee health and wellness. By partnering with Medulance, these companies can ensure that their employees have access to emergency medical services when they need them, which can improve employee productivity, morale, and retention.
Individuals who subscribe to Medulance's services are primarily those who prioritize their health and are willing to pay for high-quality emergency medical services. This includes individuals with pre-existing medical conditions, elderly individuals, and families with young children. These individuals value prompt response times and the availability of medical professionals and equipment during emergencies.
In the year 2021 to 2022, the company had sales of 24 crores, which is a significant increase from the previous year's sales of 15.7 crores in 2020 to 2021. The net margin for the year 2021 to 2022 was 24%, which is higher than the previous year's net margin of 18%.
In the last month, Medulance had sales of 2.7 crores, which suggests that the company is continuing to experience strong demand for its services. Looking forward, the company is projecting sales of 40 crores in the current fiscal year, with a projected profit margin of 24%. These figures suggest that Medulance is expecting to continue its growth trajectory in the coming years.
Medulance participated in Shark Tanks India and made an ask for 2 crores in exchange for 1% equity at a valuation of 200 crores. The owners received multiple offers and counter offers from the investors.
Namita and Aman gave an offer of 1 crore for 1% equity and 1 crore at debt. Amit initially gave an offer of 5 crores for 10% equity but later revised it for 5 crores at 5% equity. Finally, Namita, Aman, and Peyush came together with an offer of 1 crore for 1% equity and 1 crore at debt.
The owners of Medulance revised their offer to 2 crores at 1.5% equity, but the trio of investors revised their offer to 2 crores at 2% equity. The final deal was closed with Namita, Aman, and Peyush for 2 crores at 2% equity.
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