Within a year of raising $19 million Series B round, diagnostics startup SigTuple has bagged Series C round worth $16 million led by Trusted Insight.
The Bengaluru-based startup also saw the participation of existing investors Accel Partners, Chiratae Ventures, Pi Ventures and Flipkart co-founder Binny Bansal.
As a part of the deal, Binny Bansal will join the SigTuple’s board.
With the fresh capital, SigTuple has plan to improve customer experience and healthcare services through data-driven intelligence.
Launched in 2015 by Rohit Kumar Pandey, Tathagato Rai Dastidar, and Apurv Anand, SigTuple has built hardware and software using artificial intelligence technology to digitize pathological tests.
With a team size of 100 people, SigTuple has developed a flagship product called Manthana which helps it to analyse visual medical data efficiently.
Through Manthana it covers five major high-volume, screening processes of the healthcare industry – analysis of peripheral blood smears, urine microscopy, semen, fundus & OCT scans and chest x-rays.
The company claims to have deployed more than 30 devices that analyse blood samples. Additionally, the lab operating system developed by SigTuple is being used by Humain Diagnostics and will be rolled out to other labs by 2019.
Apart from the venture round, SigTuple is also in the process of raising debt financing. Till date, it has raised about $40 million across four rounds.
Operating on a hub-and-spoke model, SigTuple generates revenue by selling the hardware machine and charging per report.
The development was reported by Mint.