PB Health raises $218 million, acquires Fitterfly to boost preventive healthcare push

New Delhi: PB Healthcare Services (PB Health), a healthcare venture incubated by PB Fintech, the parent company of Policybazaar, has announced the closure of its $218 million seed funding round. The round, which was first unveiled in May this year, brings together a strong lineup of marquee investors led by global investment firm General Catalyst.

Other participants in the round include Faering Capital, Bay Capital, Think Investments, Avataar, Select Group, and a few angel investors.

PB Health aims to build an integrated healthcare ecosystem connecting hospitals, doctors, insurers, and patients under one platform. Its focus is on creating a connected, cashless, and prevention-led care model that bridges the trust gap between hospitals and insurers.

The company plans to start operations with a 1,200-bed hospital network in the Delhi-NCR region over the next couple of years. This will include a 270-bed hospital in Noida and two additional facilities in Gurgaon.

Commenting on the funding, Yashish Dahiya, Chairman and Group CEO of PB Fintech, said, “Our vision is to create a truly integrated healthcare ecosystem where patients experience frictionless, high-quality care. Our focus remains on building a tech-first healthcare platform that improves outcomes, enhances trust, and redefines the care journey for millions across India.”

Neeraj Arora, Managing Director at General Catalyst, noted that India has the potential to “leapfrog legacy models in healthcare” and build a “resilient and inclusive health assurance system” focused on proactive and affordable care.

Sameer Shroff, Co-founder and Managing Director at Faering Capital, said PB Health’s model of combining technology, hospital infrastructure, and insurance would be “transformative in enhancing patient-centric care in India.”

PB Health has also strengthened its leadership team by bringing on board senior healthcare professionals, including Rajeev Bhandari (formerly with Evercare and Fortis Hospitals), Dr Mohit Mathur (formerly with Max Hospitals), and Air Marshal Dr Rajesh Vaidya (former Director General Medical Services, Indian Air Force).

To deepen its focus on preventive healthcare, PB Health has acquired Mumbai-based digital health platform Fitterfly. The startup offers clinically validated programmes for diabetes reversal, obesity management, and heart health.

Arbinder Singal, Co-founder and CEO of Fitterfly, said the partnership would help “blend online and in-person care seamlessly to improve outcomes, lower admission rates, and reduce healthcare costs.”

PB Health said its technology platform uses artificial intelligence for smart clinical documentation, AI-assisted doctor support, and health information management. Through acquisitions and partnerships, the company plans to expand beyond hospitals to create a comprehensive, prevention-first healthcare network across India.