SigTuple Secures $16 Million in Series C Funding to Advance AI-Powered Diagnostic Platform for Five Disease Screenings

VCBeat (WeChat ID: vcbeat) has learned that on April 8, 2019, SigTuple, a medical AI startup, announced the completion of its $16 million Series C financing round. The round was led by Trusted Insight, with participation from Accel, Chiratae Ventures, and Pi Ventures.

In June last year, SigTuple raised $19 million in its Series B funding round and subsequently registered two subsidiaries: Mirable Health and Truelyser Biosystems. The proceeds from this financing round will be used to further develop these two subsidiaries.

Since its founding in 2015, SigTuple has completed four rounds of financing, with its $5.8 million Series A round setting the record for the largest single funding round in India’s healthtech sector to date.

SigTuple Financing History

SigTuple is a technology startup founded in Bangalore, India, known as the “Silicon Valley of Asia.” Its goal is to leverage machine learning technologies within artificial intelligence to provide patients with precise, safe, timely, and efficient diagnostics. The company was co-founded by Tathagato Rai Dastidar, Rohit Kumar Pandey, and Apurv Anand, all of whom previously worked at American Express’s Big Data Laboratory.

SigTuple’s AI platform, named Manthana, constructs algorithms by learning from existing medical data. Based on these algorithms, the platform analyzes visualized medical images to rapidly derive conclusions, thereby assisting physicians in diagnosis. According to SigTuple’s roadmap, Manthana will provide screening for five conditions: blood smear examination, urine microscopy, semen analysis, ophthalmic OCT imaging, and chest X-rays. Currently, clinical trials for blood smear examination have been completed; clinical trials for urine microscopy and semen analysis are imminent; while ophthalmic OCT and chest X-ray functionalities remain in the research and development phase.

Shonit Hematology Analyzer (Source: SigTuple Official Website)

“SigTuple now comprises three entities. The parent company, SigTuple, will continue to focus on the research and development of next-generation technological devices. Mirable operates 10 laboratories in Bengaluru and plans to open several new facilities in Hyderabad, Chennai, and Delhi. Truelyser will concentrate on the manufacturing, assembly, and distribution of medical devices. SigTuple has filed more than 20 patents and has begun securing funding,” said Rohit, Founder and CEO.

SigTuple has recently acquired Medyog, a home healthcare startup based in Bangalore, which will operate under Mirable Health. Medyog enables customers to schedule tests via mobile phone and provides at-home blood or urine sample collection services. Currently operating in Bangalore, Hyderabad, and Chennai, Medyog plans to expand to 12 cities by the end of the year.

Co-founder and Chief Operating Officer Apurva stated, “The company’s blood testing device, Shonit™, was commercialized in late 2018 and is now deployed in over 30 medical institutions. We plan to initiate clinical trials for urine and semen analysis by the end of this quarter.”

Trusted Insight is a U.S.-based private equity investment management platform founded by Alex Bangash in 2010. The platform boasts over 140,000 members and oversees more than $18 trillion in assets, spanning private equity, hedge funds, real estate, and other sectors.

Reference Links:

https://sigtuple.com

https://yourstory.com/2019/04/sigtuple-seriesc-funding-binny-bansal

https://vcbeat.top/YTZmNzZjYjgxYWQ5ODhkYzY2NDk2OGExZDU2ZDhmOTY=

(Compiled by Yang Shaobo)