Bengaluru-based healthtech startup SigTuple Technologies Pvt. Ltd has topped up its Series C round with another $4.3 million (around Rs 34.5 crore), taking the total funding raised in the round to $23.3 million (around Rs 192 crore).
Existing investors Endiya Partners and Accel have jointly led the additional investment with participation from a host of undisclosed investors in the healthcare sector.
In 2019, VCCircle had reported that SigTuple raised $19 million as a part of its Series C fundraise in a mix of equity and debt. The round led by Trusted Insight also saw participation from Accel, Chiratae Ventures, Pi Ventures, Flipkart’s co-founder Binny Bansal and Trifecta Capital.
With the latest infusion, SigTuple plans to expand its geographical and product portfolio, with supporting its regulatory clearances.
Till date, the startup has cumulatively raised $40.8 million in funding.
Founded in 2015, SigTuple Technologies is a healthtech startup that is engaged in the development of medical solutions based on robotics and artificial intelligence (AI) for high-volume screening tests that require manual analysis of visual medical data. It also develops a cloud-based system to run the operations of a diagnostic lab.
The SigTuple group has three companies under its umbrella wjich ncludes SigTuple Technologies Pvt. Ltd, Mirable Health Services Pvt. Ltd and Truelyser BioSystems Pvt. Ltd.
“2023 is the year SigTuple will expand across key markets in Southeast Asia, Middle East and North Africa, North America and Europe,” said Tathagato Rai Dastidar, founder and chief executive officer, SigTuple.
“SigTuple is combining digitization and AI technology for peripheral blood smears and urine samples, the two most common tests in pathology labs worldwide. SigTuple is also expanding its AI solutions to hematology, cytology, and microbiology,” said Ramesh Byrapaneni, managing director, Endiya Partners.
Accel, which has been backing SigTuple since its initial funding round, has been a part of significant early-stage deals last month.
Last month, the firm co-led the $7.5 million seed round in software-as-a-service (SaaS) presentation platform Chronicle.
It had also participated in the $8.3 million Series A funding round in business-to-business (B2B) SaaS platform Venwiz during the same period.
Meanwhile, India’s healthtech space has been garnering investors’ traction for quite some time now.
In January, Gurugram-based healthtech startup Breath Well-being, secured a pre-Series B funding of around $6 million (Rs 50 crore) in a round co-led by existing investors 3one4 Capital, Accel and General Catalyst.
In November last year, diabetes management platform BeatO raised $33 million in its Series B round of funding led by impact investor Lightrock India.
