fbpx

Orange Health announces maiden ESOP buyback worth $1 Mn

Healthtech startup Orange Health has announced its maiden employee stock option plan and equity buyback programme worth $1 million. This is the first ESOP buyback by any Indian startup in the second half of 2022.

According to Orange Health, around 25 existing and former employees are eligible to participate in this ESOP buyback and liquidate part of their vested stock options.

With this buyback, the company aims to recognize the contribution of employees in enabling its growth in the last 2 years along with driving wealth creation. 

The announcement comes on the heels of a $25 million Series B funding round for the Bengaluru-based startup. Launched in December 2020 by Dhruv Gupta and Tarun Bhambra, Orange Health is an on-demand diagnostic firm that provides at-home sample collection across Bengaluru, Gurugram, Delhi, Noida and Ghaziabad. As of now, it claims to have provided diagnostic testing services to over 1 million customers.

Unlike the first half of 2022 where ESOP buybacks were quite frequent, the second half saw only one such event. In June, foodtech giant Swiggy announced a $35-40 million ESOP liquidity program for 2022 and 2023.

As per data compiled by Fintrackr, more than 20 startups have announced ESOP buyback, liquidity or sale worth around $200 million in the first six months of 2022 or H1 2022. Last year, the total buyback was worth around $440 million.

Orange Health seems to be a captivating startup with inspiring new development on hospitals and health care platform. This startup would continue to prosper in the future. Wishing this startup good luck in all its future endeavors.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For Editorial/Rectification please email aditi@startuplanes.com

Tags

top