Bengaluru-based health-tech pioneer Practo is reportedly in advanced discussions to secure $100 million in a pre-IPO funding round. This strategic capital raise comes as the company initiates formal preparations for its Initial Public Offering (IPO), targeted for the second half of 2026. The move signals a major milestone for one of India’s oldest digital healthcare platforms, which has evolved from a simple doctor-discovery tool into an integrated healthcare ecosystem.
According to sources familiar with the development, the new funding will be used to bolster Practo’s balance sheet and fuel its expansion into high-growth international markets. The company, which already operates in over 22 countries, is specifically looking to double its international revenue over the next three years by deepening its presence in developed regions such as Canada and Australia.
The funding talks follow a period of strong financial performance for Practo. In the 2024 fiscal year, the company reported a 22% surge in revenue to approximately $28 million, achieving a significant milestone by turning profitable in the March 2024 quarter. This shift from “growth at all costs” to sustainable profitability has made the firm an attractive prospect for late-stage investors.
As part of its listing roadmap, Practo is also executing a “reverse flip.” The company’s holding entity is currently being moved from Singapore back to India. This legal restructuring, expected to be completed by February 2026, is a mandatory step for many Indian startups aiming to list on domestic bourses like the NSE and BSE to capitalize on the country’s buoyant primary market.
Founded 17 years ago by Shashank ND and Abhinav Lal, Practo now manages a massive network of over 5 lakh (500,000) doctors. Its platform facilitates millions of appointments and teleconsultations annually, while also offering pharmacy delivery and diagnostic services. The upcoming $100 million infusion is expected to be directed toward:
- AI Integration: Enhancing diagnostic accuracy and personalizing patient care through advanced machine learning.
- Secondary Care: Expanding its “Practo Care Surgeries” segment to provide end-to-end surgical assistance.
- Infrastructure: Upgrading its tech stack to handle the target of doubling its current transaction volume.
With back-to-back quarters of positive EBITDA and a clear path toward a 2026 market debut, Practo is positioning itself as a leader in the global $18 billion connected healthcare market. The company is currently in the process of appointing investment bankers to manage the IPO process, which is expected to be finalized by next month.
Key Highlights:
- Funding Goal: Practo is in talks to raise $100 million in a pre-IPO round to strengthen its financials before a planned 2026 stock market listing.
- Global Expansion: The capital will support Practo’s goal to double its international revenue, focusing on markets like Canada and Australia.
- Operational Shift: The company is relocating its legal domicile from Singapore to India to facilitate a domestic IPO.
- Financial Health: Following a 22% revenue jump in FY24, the startup achieved profitability in early 2024, managing over 5 lakh doctors on its platform.