Redcliffe Labs Secures $42 Million for Expansion in Tier II and III Cities

Redcliffe Labs, a diagnostic services provider, has raised $42 million to expand its operations in Tier II and III cities across India. The funding round was led by Denmark's IFU, with contributions from LeapFrog Investments, HealthQuad, and Spark Growth Ventures. This move aims to make advanced diagnostic services more accessible nationwide.

Diagnostic services provider Redcliffe Labs on Tuesday announced a significant financial boost, having secured $42 million for expansion within India's Tier II and III cities.

The funding round saw a major investment of $20 million from Denmark's IFU (Investeringsfonden for Udviklingslande), complemented by a $15 million investment from existing investor LeapFrog Investments. Additional contributions came from Redcliffe's shareholders HealthQuad and Spark Growth Ventures.

This fresh capital will allow Redcliffe to deepen its presence across more than 200 cities in India, aiming to increase accessibility to advanced diagnostic services. Redcliffe Labs, founded in 2018, remains committed to empowering individuals with the knowledge and tools to take charge of their health, according to founder and CEO Aditya Kandoi.

(With inputs from agencies.)