Sunfox Technologies Secures Rs 15 Crore Pre-Series A Funding Round Led by Venture Catalysts
- ByStartupStory | August 29, 2024
Sunfox Technologies, the innovative health tech startup that garnered national attention with its appearance on Shark Tank India, has successfully secured an additional Rs 15 crore in a pre-series A funding round. This funding round was spearheaded by Venture Catalysts, an integrated incubator and accelerator, and saw participation from several notable investors, including Finvolve through the IA Growth Opportunities Fund I and Brew Opportunities Fund, Universal Group, RP Singhvi Group, and various high-net-worth individuals (HNIs).
This latest investment builds on the previous Rs 5 crore funding received from the United States Agency For International Development (USAID) through SAMRIDH Health and LetsVenture, bringing the total raised in this round to Rs 20 crore.
Apoorva Ranjan Sharma, Co-founder and Managing Director of Venture Catalysts, expressed enthusiasm about the investment: “Sunfox represents the future of cardiac care. We are proud partners in their journey and are excited to see them reach new heights with Spandan. Their mission to make heart health accessible globally is truly inspiring, and we believe they are poised to reshape the healthcare landscape.”
The capital infusion is set to drive rapid expansion for Sunfox both within India and on an international scale. The startup will focus on scaling its flagship product, Spandan, a smartphone-based portable ECG device designed to provide 12-lead ECG readings. This technology aims to empower users with the ability to detect heart attacks and monitor cardiac health in real time.
Rajat Jain, CEO of Sunfox, highlighted the impact of the new funding: “This capital injection will enable us to scale rapidly, both in India and internationally. It will fuel our growth and bring Spandan into homes and clinics worldwide. We envision a future where heart attacks are as preventable as fevers, with Spandan becoming as ubiquitous as a household thermometer.”
Operating from Dehradun, a tier 2 city, Sunfox has established a cutting-edge in-house R&D and manufacturing facility in the hilly state. The company has drawn global recognition from prestigious institutions such as Oxford and Wharton. Sunfox initially captured widespread attention when it appeared on Shark Tank India, securing investments from all five sharks—Namita Thapar, Peyush Bansal, Anupam Mittal, Vineeta Singh, and Ghazal Alagh.
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