June 26, 2018 Source: Analytics India 214
India, Bengaluru based SigTuple, a startup focusing on Artificial Intelligence for Healthcare has raised $19 million in their series B funding. The investment was led by IDG Ventures, pi Ventures Partners along with Accel, Axilor Ventures, VH Capital, Endiya Partners and Flipkart’s executive chairman Binny Bansal. The startup has also bagged venture debt from Trifecta Capital in this round. In an earlier investment round, the company raised $6.5 million from various investors.
“We are planning to invest the new fund in setting up a manufacturing facility to provide more devices in the market. We are looking for U.S., FDA and CE certification; once we get the approval we will require more clinical trials for different market deployments. We will be investing money in the same. We are also looking forward to new sales and support teams.” stated Kumar Pandey, Chief Executive at SigTuple
SigTuple is aimed at a low-cost system for testing urine, semen and blood samples with the assistance of AI to identify microscopic images. Using the company’s own application, the new system can now distinguish these samples to differentiate between normal and abnormal cells. The startup is using AI to advance hardware and software devices that would digitize pathology results. With the new funding, the company will invest in further development of research and advancements of their products. They plan to enhance their assembly, distribution and conduct more clinical trials.By Ddu
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