[Funding alert] AI-driven healthcare analytics startup Tricog raises $10.5M in Series B round
The funding will be used by the Bengaluru-based startup to expand the product line for remote patient monitoring and to establish a strong presence in Asia and Africa, including India, Japan and China.
Tricog, a Bengaluru-based healthcare analytics startup, has raised $10.5 million in Series B funding from UTEC - the University of Tokyo Edge Capital, Japan; Aflac Ventures, LLC, Japan; TeamFund, US; and Dream Incubator, Japan. Existing investors Inventus Capital and Blume Ventures also participated in this round.
Noriaki Sakamoto, Partner and Board Director, UTEC, said,
“As the lead investors of their Series A round in 2018, we were especially impressed with their scientific rigor, exemplary leadership, revenue prospects and commitment to saving lives. We are now proud to lead their Series B as well, and supplement Tricog with Japanese medical device partnerships and R&D collaborations.”
The investment comes two years after Tricog’s Series A funding round, bringing the company’s total funding to $17.5 million.
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Since the previous round, Tricog claims to have grown its presence in over 12 countries in Southeast Asia and Africa. Tricog said its AI-powered platform has been used by over 3 million patients globally for wellness, screening and diagnosis of acute as well as chronic heart diseases.
Dr Charit Bhograj, CEO and Founder, said,
“Through this round of investment, we reinforce our commitment to strengthen our AI-powered platform for faster diagnosis, expand our product line and establish strong presence in Africa and Asia including India, China, and Japan.”
Founded in 2015 by Dr Charit Bhograj, Dr Zainul Charbiwala, Dr Udayan Dasgupta, and Abhinav Gujjar, Tricog leverages its deep medical and technology expertise, to provide virtual cardiology services to remote clinics, powered by AI and medical experts. Tricog’s InstaECG platform has been deployed in over 2,500 cath labs, hospitals, clinics, and diagnostic centres to help diagnose and manage patients with critical cardiac diseases including heart attacks. The platform has been deployed across both government and private health care networks.
Yousuf Mazhar, Partner at TeamFund, added,
“Tricog’s solution in low resource settings is a game changer by allowing not only instant ECG and Echo readings without a cardiologist present, but also the ability to immediately detect life threatening situations such as heart attacks, allowing appropriate care to be administered in a timely manner.”
Tricog has recently launched the InstaEcho platform for remote echocardiography with a focus on using AI to enable point-of-care cardiac ultrasound for the diagnosis of heart failure, valvular heart disease, and screening for congenital heart disease. Tricog is also awaiting USFDA approval for its proprietary DeepRhythm platform for real-time patient monitoring.
Managing Director, Tomoyuki Shimada, Aflac Innovation Partners GK Japan, said,
“We believe Tricog's approach using ECG plus AI should have a huge impact on our healthcare experience. As an insurance company, Aflac will seek possibilities collaborating with the Tricog team to achieve their mission and try to create opportunities in improving people's quality of life."
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