[Funding alert] Singapore-based Frontline Strategy Funds invests in medtech startup Cardiotrack
Singapore-based private equity platform Frontline Strategy Funds has led a Pre-Series round of investment in the medtech startup. The round also saw participation from other angel investors.
According to a statement released by the medtech startup, the funds will be used to grow its customer base in India and international markets.
Commenting on the investment, Avin Agarwal, CEO, Cardiotrack said,
“With the involvement of Frontline Strategy Funds and associated investors, we are confident of increasing our patient scan rate by 10X within the current year. With the strong industry network and experience, the role of investors will be of a booster to our growth trajectory.”
Team at Cardiotrack
Atim Kabra, Managing Director of Frontline Strategy Funds, said,
“Avin and his team have built a strong business that leverages technology to bring portability and speed to reliable patient screening and consultation. We are excited to be a part of Cardiotrack’s journey to bring innovative care delivery models alongside the power of IoMT – the internet of medical things to reduce the cost of healthcare delivery.”
Founded by Avin Agarwal and Ashim Roy, Cardiotrack is aimed at bridging the gap between healthcare providers and chronic patients for affordable access to healthcare and better disease management. It is an end-to-end disease management platform with diagnostic grade medical devices connected to the mobile, cloud, and AI technology.
Headquartered in Singapore, the startup offers an integrated healthcare platform with diagnostic grade certified medical devices including 12 channel portable ECG and remote medical consultation services through its 50+ trained and certified medical professionals.
At present, it is present in more than 16 countries, offering portable medical devices, report interpretation, and medical consultation for home screening, corporate wellness screening, and health camps to support chronic patients anywhere and anytime.
Frontline Strategy Funds provides growth capital and expertise to businesses primarily focussed on India and South East Asia. It serves as an accelerator that fuels growth-oriented companies.
(Edited by Saheli Sen Gupta)