PB Health Raises USD 218 Million in Seed Round Led by General Catalyst
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PB Healthcare Services Private Limited (PB Health), a newly formed healthtech venture backed by PB Fintech, has raised USD 218 million in the first tranche of its seed funding round. The round was led by global investment firm General Catalyst, with additional participation from PB Fintech and other external investors.
The funding will be used to establish PB Health's first hospital network in the Delhi National Capital Region and to accelerate product development and technology innovation. Founded on 1 January 2025, the company aims to create a tech-enabled, cashless healthcare delivery platform that integrates insurance and clinical care.
"We are very excited to partner with General Catalyst in building the next chapter of healthcare in India. Since 2015, we've always chosen our primary investor carefully, and this time was no different — we approached the General Catalyst team for their deep investment experience and strong understanding of health tech. Our focus remains on building a tech-first healthcare platform that improves outcomes, enhances trust, and redefines the care journey for millions across India," said Yashish Dahiya, Chairman and Group CEO of PB Fintech.
PB Health plans to launch a 1,000-bed hospital network in Delhi NCR and has set its sights on phased expansion in other regions. The company's model involves direct hospital operations, removing pre-authorisation steps and streamlining claims processes, aiming to offer patients a seamless and predictable healthcare experience.
"We believe India has a unique opportunity to leapfrog legacy models and build a resilient, inclusive health assurance system — one that makes care more proactive, affordable, and accessible. Yashish has already built one of India's largest insurance platforms and is uniquely positioned to deliver impact at scale for the country's middle class," Neeraj Arora, Managing Director at General Catalyst, noted.
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