Medtech

SigTuple Raises $4 Mn In Extended Series C Round Led By SIDBI Venture Capital

• ByStartupStory     |    August 7, 2024

Medtech startup SigTuple has successfully raised Rs 33 crore ($4 million) in its extended Series C round, spearheaded by SIDBI Venture Capital. This funding round also saw the participation of existing investors including Endiya Partners and several strategic leaders from the healthcare sector.

This new injection of capital follows a previous $4.3 million raised in the initial Series C round led by Endiya Partners and Accel in March 2023. With this latest funding, SigTuple’s total fundraising to date surpasses $40 million.

The newly acquired funds will be utilized to drive geographical expansion, broaden the product portfolio, and support regulatory clearances. In a press release, SigTuple stated, “The new proceeds will be used to drive geographical expansion, expand its product portfolio and support regulatory clearances.”

Founded in 2015 by Apurv Anand, Bharath Cheluvaraju, Rohit Kumar Pandey, and Tathagato Dastidar, SigTuple specializes in developing AI-driven smart robotic microscopes designed to automate the manual processes in clinical laboratories.

Since 2020, SigTuple has concentrated on its flagship product, AI100, which has been gaining significant traction in the Indian market, securing major diagnostics industry players as customers. Partnering with Horiba Medical as its South Asia distribution channel, the company has also expanded into Southeast Asia, the Middle East, and North Africa, with plans to penetrate the European and American markets. Notably, in September 2023, AI100 received US FDA 510(k) approval, making SigTuple the third company globally—and the first in India—to achieve this milestone for AI-assisted digital hematology.

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