Sunfox Bags Funding From Venture Catalysts, Others To Scale ECG Device ‘Spandan’

Dehradun-based healthtech startup Sunfox Technologies has raised INR 15 Cr (around $1.8 Mn) in a funding round led by Mumbai-based VC firm Venture Catalysts.

The round also saw participation from IA Growth Opportunities Fund I, Brew Opportunities Fund, Universal Group, RP Singhvi Group, and several unidentified high-net-worth individuals (HNIs).

The startup plans to utilise the capital to expand its presence in India as well as the international markets. Besides, it will also use the funds to scale its portable ECG device Spandan, which helps users diagnose arrhythmia and heart attacks as well as remotely monitor their cardiac health in real-time. 

“This capital injection will enable us to scale rapidly, both in India and internationally. It will fuel our growth and bring Spandan into homes and clinics worldwide,” cofounder and CEO Rajat Jain said.

The startup claims that Spandan’s 12-lead smartphone ECG technology ensures timely and precise cardiac monitoring, enabling early detection and effective management of heart conditions. Spandan is available in three variants — Spandan 4.0, Spandan Neo and Spandan Pro.

Sunfox claims that Spandan has been used by more than 30,000 people across the world and has already saved more than 10,000 lives by preventing heart attacks.

Founded by Rajat Jain, Arpit Jain, Saurabh Badola, Nitin Chandola and Sabit Rawat, Sunfox Technologies offers healthcare solutions for patient monitoring, disease management, and prevention of heart attacks.

Earlier, Sunfox secured a funding of INR 5 Cr from USAID through SAMRIDH Health and LetsVenture.

The ECG device maker shot to fame after bagging an all sharks-deal at Season 1 of Shark Tank India.

Sunfox competes with the likes of Curefit, HealthifyMe, BeatO and Cardiotrack in the cardiac diagnostics space.

The development comes at a time when healthtech startups are seeing significant interest from investors. Earlier this month, Visit Health raised INR 250 Cr in a mix of primary capital infusion and secondary purchase of shares from Docprime Technologies, a wholly owned subsidiary of PB Fintech.

Recently, SigTuple secured $4 Mn in an extended series C funding round led by Sidbi Venture Capital.

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