Accel, IDG lead $19m round for India's SigTuple

Existing investors Pi Ventures, Endiya Partners and Flipkart co-founder Binny Bansal also participated in the round, along with Trifecta Capital, Axilor Ventures, VH Capital. According to a blog post by Pi Ventures, the company will use the new capital to expand manufacturing and distribution of AI 100, its smart diagnostic device, as well as for R&D, clinical trials, and expansion in overseas markets.

SigTuple was founded in 2015 to automate medical diagnostics for common diseases. The AI 100 digitizes this process by scanning a slide containing a fluid sample and uploading it to the cloud, where SigTuple's AI engine Manthana compares it with a database to find any abnormalities.

SigTuple has made three commercial deployments of AI 100 and expects to close another five by the end of the month. The company is currently applying for certification by the US Food & Drug Administration (FDA) and the European Economic Area to allow it to enter those markets.

This is Accel's third investment in SigTuple, following a seed round in 2016 and a $5.8 million Series A last year that also included IDG, Pi and Endiya. The firm has invested in several technology-enabled healthcare companies in India, including health and fitness app developer CureFit and home healthcare business Portea Medical.

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• Topics
• South Asia
• Healthcare
• Technology
• Early-stage
• India
• Accel Partners
• IDG Ventures
• TMT