Ambulance service provider DIAL4242 on Monday announced closing a Rs 1 crore seed funding round for expanding its reach and enhancing services.

This round was led by investors G Vamshi Raju, Starfish Ventures, and several Hyderabad-based angel investors, the company said. DIAL4242 has recently partnered with some delivery platforms to support their delivery partners with ambulances in 15 minutes, a statement said.

In a period of funding winter, the successful closing of the seed funding round testifies to the trust and confidence of investors in the company. The secured capital will be pivotal in expanding our reach and enhancing our services, said Jeetu Lalwani, founder of DIAL4242.

DIAL4242 has demonstrated its capabilities by forming partnerships with major players in the gig economy and insurance sector and delivering ambulances to million-plus members in less than 15 minutes, he said.

With the fresh capital infusion, the company is confident of expanding its countrywide presence and catering to communities, corporates and individuals with accessible and convenient healthcare services, the company said.

"Investing in DIAL4242 isn't merely a strategic decision...This investment transcends financial objectives; it's about actively contributing to lifesaving solutions and fostering greater healthcare accessibility, said Raju, who is the managing director at Visista Insurance Broking.