SUMMARY
Tricog Health uses tech to study ECG/EKG and ECHO scans to diagnose heart anomalies, providing confirmatory diagnosis to hospitals and clinics
Omron Health Care and Sony Innovation Fund are joining the Tricog captable, while several existing investors returned in the funding round
Tricog operates in a segment with incumbents the likes of Monitra Healthcare, Jeevtronics, Vieroots and Sanket
Tricog Health, a heart-focused healthtech startup based in Bengaluru has secured $8.5 Mn in a Series B2 funding round from investors including Omron Health Care and Sony Innovation Fund.
The round also saw participation from existing investors The University of Tokyo Edge Capital, Inventus Partners, and SG Innovate, bringing Tricog’s total funding to $30 Mn.
The healthtech startup plans to deploy the incoming funding to expand its geographical presence in Asia and Africa.
Before the latest round, the company raised $10.5 Mn in a Series B round in March 2020 from investors based in the US and Japan. As such, Sony’s investment makes for the second time in a row that a Japanese investor has pumped capital into Tricog.
Founded in 2015 by Dr Charit Bhograj, Dr Zainul Charbiwala (chief technology officer), and Dr Udayan Dasgupta (chief data scientist), Tricog Health uses tech to study ECG scans and diagnose anomalies accurately. The startup also offers portable ECG devices to end users that can diagnose cardiovascular anomalies.
The healthtech startup’s TriCare platform provides an integrated solution for chronic disease management, enabling remote management of heart disease using medical data from connected devices at home and wearable devices like the Apple Watch.
Tricog Health aims to make a cardiac diagnosis and management accessible and affordable by expanding partnerships with government and private healthcare networks.
“Our strategic partnerships will allow us, for the first time, to address the needs of heart patients at home,” Tricog’s founder and CEO Dr Bhograj said. He added, “The last five years have witnessed tremendous advancements in our AI and technology platform that have allowed us to serve millions of patients across multiple continents. With this round, we are committed to expanding our reach to Asia and Africa and our footprint in the US healthcare market.”
Tricog claims to have deployed its platform in over 5,000 catheterisation labs, hospitals, clinics and diagnostic centres to help diagnose and manage patients with critical cardiac diseases, including heart attacks.
The company claims that it has screened 12 Mn patients and detected half a million serious heart patients so far. Tricog operates in a segment with incumbents the likes of Monitra Healthcare, Jeevtronics, Vieroots and Sanket.
India’s healthtech segment has witnessed a rapid rise throughout 2020 and 2021, at the peak of the COVID-19 pandemic. According to Inc42 data, Indian healthtech startups have raised more than $6 Bn between 2014 and Q1 2023.
Interestingly, since the start of 2020, Indian healthtech startups raised $3.89 Bn in funding. In other words, nearly two-thirds of the total funding raised by Indian healthtech startups since the start of 2014 has come between 2020 and Q1 2023.
Recent healthtech funding rounds include Dozee’s $6 Mn round, Reveal HealthTech’s $4 Mn round and HealthPlix’s $22 Mn funding round.
