Flipkart, Accel Partners seed fund Bengaluru based Med-tech startup SigTuple.
SigTuple, healthcare solutions startup founded by ex-Amercian Express Big Data Labs executives Tathagato Rai Dastidar, Rohit Kumar Pandey & Apurv Anand in mid 2015 is out of Accel’s Incubation center at Bengaluru.
Bengaluru | Feb 22, 2016 11:58 AM IST.
This Bangalore based medical technology startup which is incubated out of Accel Partners incubation center of Bangalore has been seed funded by prominent investors from the ecommerce industry including Flipkart founders Sachin Bansal & Binny Bansal, Accel Partners, one of the venture capital funding giants and other angel investors.
SigTuple has however not disclosed the exact amount of funds raised. However, as per the funding policies, seed funds are usually in the range of $500k to $1 million. The startup aims to provide promising technology based healthcare solutions by taking blood samples & analyzing them to detect various diseases through the use of technology powered tools.
As reported to ET in an email, Dastidar & Pandey said “In a country like India, trained medical practitioners are always at a short supply. Many people have to travel long distances to see a doctor or even get a simple blood test done. New doctors can’t be trained overnight. The only way healthcare services can reach more people is to make doctors more efficient.”
“Our aim is to build affordable solutions for automating disease diagnosis. A single pathologist can review analysis reports from multiple collection centers through our web-based interface, without the physical samples having to be shipped to a central testing facility,” Dastidar and Pandey added. When contacted, Accel Partners confirmed its investment in SigTuple, but declined to share further details.
“Yes, we have made a seed investment into SigTuple, together with a couple of well known angels. The company is really early in its search for product market fit, and therefore cannot provide more details at the time,” said Subrata Mitra, Partner at Accel Partners, India, in an email to ET.
The SigTuple team claims that it uses artifical intelligence based technology besides other power tools to detect diseases for a greater accuracy in reports or results and thus avoid human error.
SigTuple said that its flagship product Shonit, which is in advanced stages of development, can automatically detect various diseases like anaemia, malaria, leukaemia and other diseases.
The team is currently trying to build a detection system for dengue. “I strongly believe that artificial intelligence is going to change the way healthcare delivery works today. It will play a big role in improving the efficiency, accuracy and outreach of medical services,” said Sachin Bansal, co-founder, Flipkart.
The latest investment in SigTuple marks the third startup investment from the Flipkart founders in the past year. In December, the Bansals had also backed Housing founder Rahul Yadav’s latest startup, Intelligent Interfaces. In September, they with other investors parked $350,000 into Plabro Networks.
Other investors in SigTuple include former Biocon executive Nirupa Bareja, Ashok Bareja, who is the former India head of the now-defunct National Semiconductor, and Amazon Lab126 executive Dabanjan Mukherjee.
SigTuple Technologies Private Limited
2nd Floor, 9, 17 A Main, 5th Block
Koramangala, Bangalore 560034