SigTuple Raises INR 34.5 Cr to Expand its Healthtech Operations

• ByStartupStory     |    March 2, 2023

SigTuple, a healthtech startup, has secured $4.3 million (INR 34.5 crore) in a recent funding round led by its current investors Accel and Endiya Partners. The funding will be utilized to broaden the startup’s product portfolio and geographic reach. Established in 2015 by Rohit Kumar Pandey, Apurv Anand, and Tathagato Rai Dastidar, SigTuple aims to develop a comprehensive product that automates various types of clinical laboratory microscopy.

SigTuple intends to penetrate the point-of-care market using microfluidic technology and imaging to accelerate crucial testing processes. In addition, the healthtech startup has recently partnered with two medical device distributors, Horiba Medical and Genworks Health, to facilitate sales and service in India. Furthermore, it has collaborated with Tawada Healthcare, a local distributor, to establish a presence in Indonesia.

SigTuple has outlined its expansion strategy, which involves forming partnerships and launching products in significant markets across Europe, North America, MENA, and SEA. The healthtech startup has experienced a transformative year, with substantial improvements to its core product, AI100, as well as the addition of new products and a growing customer base. Founder and CEO Tathagato Rai Dastidar stated that 2023 will be the year in which SigTuple goes global and expands its reach beyond India.

 

SigTuple has raised $46.2 million in funding since its establishment. Trusted Insights led a Series C funding round in 2019, which raised $16 million and featured investors such as Accel Partners, Chiratae Ventures, Pi Ventures, Binny Bansal, and Trifecta Capital. In 2020, the company underwent a significant leadership restructuring, with CEO Tathagato Rai Dastidar assuming control after co-founders Rohit Kumar Pandey and Apurv Anand stepped down.

India’s medical diagnostics sector, valued at $11 billion, is expanding at a 16% year-over-year pace. The healthtech market in the country is expected to increase to $21 billion by 2025, according to a report.

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