Bangalore-based medical tech startup SigTuple, which builds intelligent solutions for medical diagnosis using Machine Learning (ML) techniques, has raised $16-million in Series C round of funding led by Trusted Insight, a New York-based institutional syndication platform for Alternative Assets, reported LiveMint.
Existing investors Accel Partners, Chiratae Ventures, Pi Ventures and Flipkart co-founder Binny Bansal also contributed to the round. Binny Bansal will join the SigTuple board as part of the agreement.
SigTuple is also in the process of raising debt financing. The startup has raised a total of about $40 million in funding over four rounds including the latest one.
Founded in April 2015 by Rohit Kumar Pandey, Tathagato Rai Dastidar and Apurv Anand, SigTuple combines the power of robotics, medical data and artificial intelligence (AI) to create smart diagnostic solutions. Using AI & ML, the startup develops hardware and software products to digitize pathology test results for hospitals and clinics. The startup has also developed cloud-based solutions for operating diagnostic laboratories.
Manthana, a flagship AI platform of SigTuple, is capable of processing visual medical data and making medical recommendations based on disease detection. The company claims to have deployed more than 30 devices that analyse blood samples.
With a team of over 100 techies including robotics experts, computer scientists and medical experts, SigTuple has also developed a Operating System for medical diagnostic labs and the OS is being used by Humain Diagnostics and will be rolled out to other labs by the end of the year.
Speaking on the latest fundraise, SigTuple CEO Rohit Kumar Pandey, said, “We are looking to pioneer a new fabric for diagnostics, which will not only enable us to provide better customer experience, but will also power our vision to improve the healthcare services through data-driven intelligence. The diagnostic data intelligence has untapped potential to influence other industries to maximize the benefits to customers.”