The startup aims to prevent life-threatening cardiac health-related issues in patients at the remotest locations by early monitoring with cost-effective and simple devices.
Venture Catalysts announced its latest investment in Sunfox Technologies, a med-tech R&D lab building cardiac diagnosis equipment for the first mile to last mile uses. It focuses on building portable, affordable, minimalistic, and frugal medical devices for Cardiac Health. Along with Venture Catalysts, the seed round was led by Mumbai Angels and Villgro.
The team has developed its flagship product, Spandan, a light weight cardiac diagnostic tool. Weighing just 12 grams, the matchbox-sized equipment can monitor ECG with clinical-grade accuracy, detect 40+ abnormalities with edge-based AI algorithms, needs no expertise, and can be used as a point of care device anytime, anywhere.
The start-up deals with consumers, doctors, and businesses operating in the cardiology and digital health sector. It is solving the cardiac monitoring needs and making the advanced diagnosis available in close proximity when it is needed the most, acting as a Point of Care device anytime, anywhere.
Commenting on the fund raising, Rajat Jain, Founder and Managing Director of Sunfox Technologies said, “It is encouraging for the early-stage startups to see the leading investors backing tier 2 and tier 3 companies like Sunfox Technologies, specialising in deep tech. We envision impacting grass-root users and saving 100K+ lives from preventable heart attacks and by early diagnosis in the next few months. The current round will help Sunfox to scale up PAN India, strengthen up the team, and foster deeper penetration till the last mile.”
Apoorva Ranjan Sharma, President and Co-founder, Venture Catalysts, said, “The market size of portable medical devices, which was worth USD 37.2 billion in 2019, is expected to be worth USD 85.1 billion by 2027, marking a growth rate at a CAGR of 11.35% and indicating high potential for startups like Sunfox Technologies. This frugal and lean hardware technologies company comes as a ray of hope for the patients suffering from life-threatening ailments in remotest locations, providing them simple devices that can prevent them at early stages in a cost-effective manner.”