SigTuple, a Bengaluru-based medtech startup, has secured $4 million (INR 33 crores) in an extended Series C funding round led by SIDBI Venture Capital. The funding also saw participation from existing investors, including Endiya Partners and strategic leaders from the healthcare sector.
The fresh capital will be used to drive SigTuple’s geographical expansion, broaden its product portfolio, and support regulatory clearances. This latest investment brings the company’s total funding to $50 million since its inception in 2015.
The AI-powered startup was founded by Rohit Kumar Pandey, Tathagato Rai Dastidar and Apurv Anand. In 2015, SigTuple raised $16M in a Series C funding, and previous to that had raised $19M.
AI in Healthcare
SigTuple has been making significant strides in the digital pathology space. Its flagship product, AI100, which automates manual microscopic reviews using AI and robotics, has gained traction in the Indian market and expanded into Southeast Asia, the Middle East, and North Africa. The company is now poised to enter European and American markets.
In a major milestone, AI100 received 510(k) clearance from the US Food and Drug Administration (FDA) in September 2023, making SigTuple the third company globally and the first in India to achieve this for AI-assisted digital hematology.
Tathagato Rai Dastidar, founder & CEO of SigTuple said, “While we continue to build on the success of AI100 in India and abroad, 2024 will witness two new major product launches addressing a wide segment of the diagnostic industry, which will help make SigTuple a global brand coming out of India. We are truly excited to welcome SIDBI Venture Capital on board as the lead investor in this round. Their support is going to go a long way in making our dream of going global a reality.”
The company is set to launch two new major products in 2024. One is a next-generation device that will automate all manual microscopy in clinical labs, surpassing the capabilities of AI100. Additionally, SigTuple plans to enter the point-of-care market with a device leveraging microfluidic technology and imaging to conduct essential tests within minutes.
This funding round and product expansion plans underscore SigTuple’s commitment to revolutionising the diagnostic industry by making diagnostics decentralised and fully automating microscopic reviews of diseased samples.
Interestingly, in recent times there have been a number of AI developments in healthcare. In addition to big tech companies such as Google, Microsoft, Oracle, and others heavily investing in this segment. The companies are bringing LLM- based diagnostic measures in addition to other features to assist doctors.
