Bengaluru-based health technology start-up SigTuple raises $19 million
Bengaluru based health tech startup SigTuple Pvt. Ltd has managed to raise $19 million (around Rs 129 crore in a Series B funding round led by Accel Partners and IDG Ventures. Other existing investors Endiya Partners, pi Ventures, VH Capital, Axilor Ventures and Flipkart co-founder Binny Bansal also participated in this round,
The startup has also raised venture debt from Trifecta Capital in this round. SigTuple also raised $5.8 million (around Rs 38.8 crore) in a Series A funding in early 2017. In 2016, the startup had raised $740,000 from Flipkart founders Sachin Bansal and Binny Bansal, Accel Partners and a few other angel investors.
SigTuple was founded in 2015 by Tathagato Rai Dastidar, Rohit Kumar Pandey, and Apurv Anand, who all previously worked at Big Data Labs of American Express. SigTuple’s flagship project is Manthana. Manthana (मंथन) is an artificial intelligence platform which helps us analyze visual medical data efficiently. Manthana has enabled them to work on five major high-volume, screening processes of the healthcare industry – analysis of peripheral blood smears, urine microscopy, semen, fundus & OCT scans and chest x-rays.
“There is a big opportunity to make healthcare accessible, affordable and accurate. We are gearing up to take our solutions and services to the larger population,” said Rohit Kumar Pandey, CEO of SigTuple.
SigTuple will utilize the newly gained funds to expand its market, enhance its products and technology and in the distribution of its newly launched diagnostic machine AI 100. SigTuple is among a growing number of health-tech startups that are using emerging technologies such as AI and ML.
“More than a billion blood tests are done in India every year. We recognize the potential value a technology like AI can bring to the pathology domain. The founders have brought solutions using AI that can assist pathologist look at data more effectively,” said Ranjith Menon, executive director, IDG Ventures India.