Policybazaar health arm raises $218 million, buys diabetes management platform

MUMBAI: Policybazaar’s healthcare arm has raised $218 million in its seed round and acquired a diabetes care platform to expand into preventive healthcare . PB Health , incubated by PB Fintech, said the round—first announced in May—was led by General Catalyst and included participation from Faering Capital, Bay Capital, Think Investments, Avataar, Select Group, and select angel investors.

The company is building an integrated healthcare network connecting hospitals, doctors, insurers, and patients to make care more connected, cashless, and focused on prevention. It plans to set up a 1,200-bed hospital network in Delhi NCR over the next few years, including a 270-bed hospital in Noida and two facilities in Gurgaon.

Sameer Shroff, co-founder and managing director at Faering Capital, said PB Health’s model “will be transformative in enhancing patient-centric care in India.” He said the founding team, led by Yashish Dahiya and Alok Bansal, has a proven record of execution. Neeraj Arora, managing director at General Catalyst, said India has a “distinctive opportunity to leapfrog legacy models in healthcare” and build a “resilient and inclusive health assurance system .”

Yashish Dahiya, chairman and group CEO of PB Fintech, said the company’s vision is to create a “tech-first healthcare platform that improves outcomes, enhances trust, and redefines the care journey for millions.” PB Health has strengthened its leadership team with Rajeev Bhandari, Dr Mohit Mathur, and Air Mshl Dr Rajesh Vaidya, who bring experience in hospital operations, clinical management, and healthcare administration.

The company is integrating AI into its health information systems to enable voice-to-text documentation, smart clinical reports, and AI-assisted support for doctors. It is also expanding beyond hospitals through partnerships and acquisitions. Its recent acquisition of Mumbai-based FiAerfly , which offers programs for diabetes reversal, obesity management, and heart health, aims to strengthen its preventive care offering.

Arbinder Singal, co-founder and CEO of FiAerfly, said chronic diseases such as diabetes, hypertension, and obesity affect “up to 40% of the adult population in India.” He said the platform, with its validated outcomes, will “blend online and in-person care seamlessly to improve outcomes.”