Diagnostics startup SigTuple has secured a $16-million Series C round led by Trusted Insight, the company said on Monday. Existing investors Accel Partners, Chiratae Ventures, Pi Ventures and Flipkart co-founder Binny Bansal also participated in 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 firm uses artificial intelligence (AI) to develop hardware and software products to digitize pathology test results for hospitals and clinics. “SigTuple transcends the space of tech-enabled healthcare,” said Bansal. “It is creating the technology ground up for making healthcare affordable and accessible,” he said.
Last June, the company had raised $19 million in its Series B funding round that was led by Accel Partners and Chiratae Ventures, besides other existing investors.
SigTuple was founded in April 2015 by Rohit Kumar Pandey, Tathagato Rai Dastidar and Apurv Anand, and is into the development of medical solutions for high-volume screening tests that require manual analysis of visual medical data. It has also developed cloud-based solutions for operating diagnostic laboratories.
SigTuple has a team of over 100 techies. “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,” said SigTuple CEO Pandey. “The diagnostic data intelligence has untapped potential to influence other industries to maximize the benefits to customers.”
SigTuple’s flagship AI platform, Manthana, 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.
It plans to enable urine and semen analysis on these devices by the end of the quarter. Its solution for analysing retinal scan is in beta testing, and the company is in talks with camera manufacturers to integrate fundus photography into the system.
The lab operating system developed by SigTuple is being used by Humain Diagnostics and will be rolled out to other labs by the end of the year.
This article was first published on livemint.com