Healthtech startup SigTuple raises Rs 34.5 crore in funding from Endiya Partners, Accel
Healthcare startup SigTuple has raised Rs 34.5 crore in funding led by existing investors Endiya Partners and Accel, with participation from a few strategic leaders from the healthcare sector. The startup will use the capital to drive geographical expansion, expand its product portfolio and support regulatory clearances.
SigTuple has raised about $40.8 million in funding so far, and is backed by the likes of Accel Partners, Chiratae Ventures, Pi Ventures and Flipkart co-founder Binny Bansal. “The last one year has been truly transformative for the organisation, with major product improvements, new product additions and, most importantly, strong customer traction,” said SigTuple chief executive officer Tathagato Rai Dastidar.
“While we continue to build on the success of AI100 in India, 2023 is the year SigTuple will go global with expansions planned across key markets in Southeast Asia, Middle East and North Africa, North America and Europe.”
Since 2020, the company has been focused on its core product, AI100, which automates the job of a pathologist by studying microscopic images of blood samples, interpreting them and issuing reports. The product, based on machine learning and artificial intelligence (AI), is being used by diagnostic laboratories and hospitals.
Ramesh Byrapaneni, managing director, Endiya Partners, said, “SigTuple is solving an important problem by combining state-of-the-art digitisation and AI technology for peripheral blood smears and urine samples, the two most common tests in pathology labs worldwide.”
The company said it has onboarded two of the largest medical device distributors as channel partners for sales and service in India – Horiba Medical and Genworks Health and it has expanded internationally to Indonesia. Partnerships and product launches are also planned in other countries. “SigTuple's digital solutions are at the forefront of innovation, and their dedication to enhancing patient outcomes is truly remarkable," said Barath Shankar Subramanian, partner at Accel.
SigTuple has raised about $40.8 million in funding so far, and is backed by the likes of Accel Partners, Chiratae Ventures, Pi Ventures and Flipkart co-founder Binny Bansal. “The last one year has been truly transformative for the organisation, with major product improvements, new product additions and, most importantly, strong customer traction,” said SigTuple chief executive officer Tathagato Rai Dastidar.
“While we continue to build on the success of AI100 in India, 2023 is the year SigTuple will go global with expansions planned across key markets in Southeast Asia, Middle East and North Africa, North America and Europe.”
Since 2020, the company has been focused on its core product, AI100, which automates the job of a pathologist by studying microscopic images of blood samples, interpreting them and issuing reports. The product, based on machine learning and artificial intelligence (AI), is being used by diagnostic laboratories and hospitals.
Ramesh Byrapaneni, managing director, Endiya Partners, said, “SigTuple is solving an important problem by combining state-of-the-art digitisation and AI technology for peripheral blood smears and urine samples, the two most common tests in pathology labs worldwide.”
The company said it has onboarded two of the largest medical device distributors as channel partners for sales and service in India – Horiba Medical and Genworks Health and it has expanded internationally to Indonesia. Partnerships and product launches are also planned in other countries. “SigTuple's digital solutions are at the forefront of innovation, and their dedication to enhancing patient outcomes is truly remarkable," said Barath Shankar Subramanian, partner at Accel.
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