Bengaluru-based healthcare startup SigTuple is reportedly on its way to raising about $40-50 million in fresh funds in a Series C round, new reports have suggested. According to an article in a noted financial daily, the startup had held early discussions with investors like DST Global, PremjiInvest and UC-RNT fund. The report had cited anonymous sources for the information.
Earlier this year, SigTuple had raised $19 million (₹130 crore) in the Series B round of funding. Founded 2015 by former American Express employees Rohit Kumar Pandey, Tathagato Rai Dastidar and Apurv Anand, the company has raised over $25 million from different investors so far. The Series B round was led by IDG Ventures and Accel Partners along with pi Ventures, Endiya Partners, VH Capital, Axilor Ventures and Flipkart’s executive chairman Binny Bansal. SigTuple had also raised venture debt from Trifecta Capital in that round.
The company has been working on a low-cost system for examining blood, urine and semen samples using artificial intelligence to recognise microscopic images. Using SigTuple’s own software, their machine can now recognise these samples to differentiate between normal and abnormal cells.
SigTuple has been using AI to develop hardware and software products that would digitise pathology results from hospitals. Now, with the new funding in hand, SigTuple plans to use it to further advance in research and development of their products. They also want to enhance their assembly, distribution and conduct more clinical trials.
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