SigTuple Raises $4 Mn Led by SIDBI Venture Capital

The fresh infusion will be utilized to drive geographical expansion, expand its product portfolio, and support regulatory clearances.

Medtech startup SigTuple has raised INR 33 Cr ($4 million) led by SIDBI Venture Capital, with participation from existing investors including Endiya Partners, and a few strategic leaders from the Healthcare sector.

The fresh infusion will be utilized to drive geographical expansion, expand its product portfolio, and support regulatory clearances.

Established in 2015 by Tathagato Rai Dastidar, the medtech startup integrates artificial intelligence, robotics, and data science to develop intelligent screening solutions to enhance the accuracy, accessibility, and affordability of healthcare.

Tathagato Rai Dastidar, Founder & CEO, SigTuple said, “The last round of funding helped us propel our product portfolio forward and obtain the necessary regulatory approvals. We are truly excited to welcome SIDBI Venture Capital on board as the lead investor in this round. Their support is going to go a long way in making our dream of going global a reality.”

Sigtuple’s Offerings

Since 2020, SigTuple has focused on its core product, AI100, which is now gaining significant traction in the Indian market with major diagnostics industry players as customers.

Partnering with Horiba Medical as its South Asia distribution channel, SigTuple has also expanded into Southeast Asia, the Middle East, and North Africa, and is poised to enter Europe and the Americas.

In September 2023, AI100 received US FDA 510(k) approval, making SigTuple the third company globally and the first in India to achieve this for AI-assisted digital hematology.

Further, the company is set to launch a next-generation product that automates all manual microscopy in clinical labs, surpassing the AI100.

Debraj Banerjee, Senior Fund Manager, SIDBI Venture Capital who is focusing on deeptech investments, said “We are thrilled to partner with SigTuple as they redefine the medical diagnostic industry. The team at SigTuple has demonstrated a remarkable ability to develop and deploy cutting-edge AI solutions with ‘AI100’ and their upcoming launches."

Additionally, SigTuple is entering the point-of-care market with microfluidic technology and imaging to process essential tests in minutes, promoting decentralization and making quality diagnostics accessible.

Dr Ramesh Byrapaneni, MD, Endiya partners, a Cardiologist turned Venture Capitalist said, "Proud to be associated with SigTuple since the inception. With the upcoming launch of its 2nd product and the Point of Care (POC) under development, it will be the only company in the world to cater to all the Digital Health needs of the Pathology Department - Hematology, Histopathology, and Cytology”

In June last year, SigTuple successfully raised $4.3 million (INR 34.5 Cr) in a recent funding round led by existing investors, Endiya Partners, and Accel. The company sought to use the funds to expand its geographical reach and enhance its product portfolio.