[Funding alert] Healthtech startup Agatsa raises $1M in funding led by IAN and Technology Development Board, Government of India
Health solutions provider, Agatsa on Wednesday said that it has raised $1 million in funding from Indian Angel Network (IAN) and the Technology Development Board (TDB), Department of Science and Technology, Government of India.
With this funding, Agatsa will scale up its operations and marketing along with expanding its global outreach.
Founded by the husband-wife duo — Neha and Rahul Rastogi in 2014 — Agatsa, is a technology-driven platform which provides affordable and connected health management support.
Inspired by the gaps in early identification of cardiac issues and effective care in India, Agatsa embarked on creating its first range of products to address the critical area of cardiac disease diagnosis and management.
Speaking about the investment, Rahul and Neha Rastogi, Co-founders, Agatsa, said,
“Our first line of products under the label SanketLife is aimed at addressing the delay in getting cardiac care post the appearance of a symptom. Going forward, we plan to create a range of products including wearables that will help in the timely diagnosis and management of non-communicable diseases. We are delighted to get support from IAN and TDB. We will leverage the capital infusion to bolster our platform, build a robust network of doctors, and find innovative ways to further reduce the response time.”
Agatsa claims that its first line of products under the label of SanketLife 2.0 and SanketLife Pro+ are the world's first and only portable medical-grade 12 LEAD ECG devices, small enough to fit into a pocket that can capture complete medical-grade ECG data on the go.
Speaking on the investment, Priyank Agarwal, IAN lead investor, said,
“Everybody is privy to the alarming rise of heart-related problems in India amongst both the elderly and the young. Against such a backdrop, it is heartening to see start-ups such as Agatsa using cutting-edge technology to provide Indians with innovative and low-cost cardiac care products and services. Its unique, tech-led approach to affordable healthcare is solving some of the most pressing problems for a large consumer base comprising the general public, GPs, paramedics, healthcare companies, etc.”
Since launch, Agatsa has recorded ECG readings for over 1 lakh users and more than 6,000 doctors are using the SanketLife devices. Agatsa has also cracked partnership deals with various B2B clients, offering emergency response to elderly population and cardiac patients.
Going forward, Agatsa is planning to introduce a wearable device offering early detection of 17 different diseases such as diabetes, epilepsy, obesity, anxiety, and neuropathy, etc.
“There is an essential requirement to develop cutting-edge technology based Medical Devices indigenously, that are easy-to-use, affordable and accessible even in the far-flung areas of the Indian subcontinent. Agatsa Software Pvt Ltd is set to play a crucial role in achieving this objective. Technology Development Board (TDB) recognises excellence in individuals and organisations for contributing to the development and commercialisation of indigenous technologies.,” representatives of the Technology Development Board (TDB), Government of India said in an official statement.
The startup further plans to bolster its service portfolio by integrating an emergency ECG review services into the Agatsa app to ensure seamless cardiac support to B2B users like hospitals, PHCs, polyclinics etc.
Agatsa will also expand into other devices that help in the management of other non-communicable diseases like blood pressure, diabetes etc.
(Edited by Suman Singh)