SigTuple raises USD 4 Million led by SIDBI Venture Capital

 SigTuple raises INR 33 crores ($4 million) led by SIDBI Venture Capital, with participation from existing investors including Endiya Partners, and a few strategic leaders from the Healthcare sector. The team will use this new capital to drive geographical expansion, expand its product portfolio and support regulatory clearances, informed the statement.

Since 2020, SigTuple has focused on its core product, AI100, which is now gaining significant traction in the Indian market with major diagnostics industry players as customers. Partnering with Horiba Medical as its South Asia distribution channel, SigTuple has also expanded into Southeast Asia, the Middle East, and North Africa, and is poised to enter Europe and the Americas. In September 2023, AI100 received US FDA 510(k) approval, making SigTuple the third company globally—and the first in India—to achieve this for AI-assisted digital haematology.

The company is set to launch a next-generation product that automates all manual microscopy in clinical labs, surpassing the AI100. Additionally, SigTuple is entering the point-of-care market with microfluidic technology and imaging to process essential tests in minutes, promoting decentralisation and making quality diagnostics accessible. With new funding, SigTuple is poised to design and produce innovative, high-end medical devices in India for a global audience, turning its vision into reality.

Tathagato Rai Dastidar, Founder & CEO – SigTuple said, “The last round of funding helped us propel our product portfolio forward and obtain the necessary regulatory approvals. While we continue to build on the success of AI100 in India and abroad, 2024 will witness two new major product launches addressing a wide segment of the diagnostic industry, which will help make SigTuple a global brand coming out of India.”

Debraj Banerjee, Senior Fund Manager, SIDBI Venture Capital (SVCL) who is focusing on deeptech investments, said “We are thrilled to partner with SigTuple as they redefine the medical diagnostic industry. The team at SigTuple has demonstrated a remarkable ability to develop and deploy cutting-edge AI solutions with ‘AI100’ and their upcoming launches. Their strategic focus on partnerships and clinical integrations positions them for rapid adoption and scaling across all the digital pathology areas. “

Dr Ramesh Byrapaneni, Managing Director of Endiya partners, a Cardiologist turned Venture Capitalist said, “SigTuple is bringing the power of Optics, Robotics, Microfluidics and AI to Healthcare. With the upcoming launch of its 2nd product and the Point of Care (POC) under development, it will be the only company in the world to cater to all the Digital Health needs of the Pathology Department – Hematology, Histopathology and Cytology”