PB Healthcare raises $218 million in one of India’s largest seed rounds

BENGALURU: In one of the largest seed funding rounds in India, PB Healthcare Services has secured $218 million to build an integrated, value-based care platform targeting the country’s underserved middle class. The round was led by US-based venture capital firm General Catalyst, with participation from PB Fintech among others.

PB Healthcare is the latest venture from Yashish Dahiya, founder and CEO of PB Fintech, which operates Policybazaar, a digital insurance marketplace. The new health entity aims to address structural gaps in affordability and access to healthcare by combining hospital infrastructure with low-cost insurance offerings.

The company plans to establish a nationwide network of high-quality secondary care hospitals bundled with targeted insurance plans, operating within a closed-loop model from care to claims. General Catalyst described this as part of a broader shift from “reactive healthcare to health assurance” – with a focus on proactive, affordable, and accessible care delivery.

“India’s middle class – over 400 million people – still lacks affordable access to basic healthcare services,” General Catalyst said in a blog post. “PB Health is building one of the country’s first truly integrated care platforms to change that.”

Neeraj Arora, managing director at General Catalyst, said the firm believes India has an opportunity to leapfrog legacy healthcare models. “Yashish has already built one of India’s largest insurance platforms and is uniquely positioned to deliver impact at scale.”

Dahiya noted that the investment will go toward building a tech-first, patient-centric healthcare system. “Our focus remains on improving outcomes, enhancing trust, and redefining the care journey for millions across India,” he said.

PB Healthcare’s leadership team includes seasoned hospital executive Rajeev Bhandari as head of operations, bringing over two decades of healthcare management experience across global markets.


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