Tricog Health, which has built technological devices that help doctors detect a heart attack within minutes of a patient’s arrival, said on Friday it has raised funds in a Series A round from Inventus Capital Partners, Blume Ventures and a group of angel investors.
The company did not disclose the amount raised. The Bengaluru-based company, which was founded in January 2015, will use the funds to enhance its technology, it said in a statement.
Tricog’s ECG devices, which are connected to a centralised monitoring server, provide real-time reporting of ECG results. The devices are installed in several clinics, polyclinics, nursing homes and hospitals. The moment a doctor takes a patient’s ECG with Tricog’s cloud-connected device, the information reaches the centrally-located hub where a Tricog specialist interprets it and sends the report through a mobile text (SMS) as well as on the mobile app.
Charit Bhograj, founder and chief executive officer of Tricog, said that in India alone, five million people suffer heart attacks every year and three million of these don’t survive as the average time it takes to diagnose a heart attack in urban India is 360 minutes. The chance of survival with this delay is mere 20%.
“Tricog’s aim is to change the patient’s 80% chance of death to an 80% chance of staying alive,” Bhograj added.
The company is present in almost 250 clinics, nursing homes and hospitals across 12 cities and towns in urban and rural areas.
“Tricog’s deep data and algorithm-driven platform, augmented by a communicator (a proprietary hardware device manufactured by them) can reach patients in urban areas, Tier 2 and 3 cities, and even remote locations,” said Sanjay Nath, managing director of Blume Ventures.
Healthcare startups operating in the fields of medical devices, wellness and apps to help search for doctors have been attracting a lot of investor interest in the past years.
Last month, Forus Health, a company focused on developing ophthalmic devices launched ROP (retinopathy of prematurity) imaging platform – 3nethra NEO. Forus had raised Rs 50 crore ($8 million) from Asian Healthcare Fund and its existing investors Accel Partners and IDG Ventures in early 2014.
Earlier this year, Inventus Capital and Blume Ventures along with IDG Ventures India invested $6 million (around Rs 40 crore) in Caeruz Ventures Pvt. Ltd, which runs health and fitness app HealthifyMe, in a Series A round.
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