SigTuple, a medtech startup specializing in AI-driven digital microscopy solutions, has raised $4 million in an extended Series C funding round led by SIDBI Venture Capital. The funding round also saw participation from existing investors, including Endiya Partners. The fresh capital will be used to drive the company’s geographical expansion, broaden its product portfolio, and support regulatory clearances. Founded in 2015, SigTuple aims to revolutionize the diagnostic process in clinical laboratories through advanced technology.
Enhancing Technological Capabilities
SigTuple plans to utilize the newly raised funds to enhance its technological infrastructure. The company focuses on automating manual microscopic reviews using AI and robotics. This technology captures high-quality images of diseased samples, which are then analyzed by AI, significantly reducing the time required for expert review.
The company’s flagship product, AI100, has already gained significant traction in the Indian market. It received 510(k) clearance from the US FDA in September 2023, making SigTuple the first Indian company to achieve this milestone for AI-assisted digital hematology. This approval has opened doors for the company to expand its presence in international markets.
In addition to AI100, SigTuple is developing new products to cater to various diagnostic needs. The company recently beta-released AS76, a device capable of analyzing multiple sample types, including tissue, sputum, blood, and urine. These advancements position SigTuple as a leader in the digital health space, offering comprehensive solutions for pathology departments.
Expanding Geographical Reach
With the new funding, SigTuple aims to expand its geographical footprint. The company has already established a presence in Southeast Asia, the Middle East, and North Africa. The next phase of expansion will target Europe and the Americas, where the demand for advanced diagnostic solutions is growing.
SigTuple’s partnership with Horiba Medical as its South Asia distribution channel has been instrumental in its regional growth. This collaboration has enabled the company to reach a wider audience and provide its innovative solutions to more healthcare providers. The expansion into new markets will further strengthen SigTuple’s position as a global player in the medtech industry.
The company’s growth strategy also includes entering the point-of-care (PoC) market. By leveraging microfluidic technology and imaging, SigTuple aims to conduct essential tests within minutes, providing quick and accurate results. This move will enhance the accessibility and efficiency of diagnostic services, particularly in remote and underserved areas.
Addressing Regulatory Challenges
Navigating the regulatory landscape is a critical aspect of SigTuple’s growth strategy. The company is committed to ensuring compliance with various regulatory requirements to maintain the highest standards of quality and safety. The recent FDA clearance for AI100 is a testament to SigTuple’s dedication to meeting stringent regulatory standards.
The new funding will support the company’s efforts to obtain additional regulatory clearances for its products. This will enable SigTuple to introduce its innovative solutions to new markets and expand its customer base. The company is also focused on building strong relationships with regulatory bodies to facilitate the approval process for future products.
SigTuple’s commitment to regulatory compliance extends to its research and development activities. The company invests heavily in R&D to continuously improve its products and stay ahead of industry trends. This focus on innovation and quality ensures that SigTuple remains at the forefront of the medtech industry, delivering cutting-edge solutions to healthcare providers worldwide.
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