Sunfox Technologies Raises Seed Funding From Venture Catalysts And Others
The startup aims to prevent life-threatening cardiac health-related issues in patients at the remotest locations by early monitoring with cost-effective and simple devices
Venture Catalysts, an integrated incubator, and accelerator, on Thursday, announced its latest investment in Sunfox Technologies, a med-tech R&D lab building cardiac diagnosis equipment for the first mile to last mile uses. Along with Venture Catalysts, the seed round was led by Mumbai Angels and Villgro.
It focuses on building portable, affordable, minimalistic, and frugal medical devices for Cardiac Health.
"It is encouraging for the early-stage startups to see the leading investors backing tier-II and tier-III companies like Sunfox Technologies, specializing in deep tech. We envision impacting grass-root users and saving over 100,000 lives from preventable heart attacks and by early diagnosis in the next few months. The current round will help Sunfox to scale up PAN India, strengthen up the team, and foster deeper penetration till the last mile," said Rajat Jain, founder, and managing director, Sunfox Technologies.
Based in the foothills of the Himalayas at Dehradun, Sunfox Technologies was started by engineer turned entrepreneur Rajat Jain and his college friends Nitin, Saurabh, Sabit, and Arpit. The team has developed its award-winning flagship product, Spandan, the smallest, smartest, lightest, and most economical cardiac diagnostic tool. Weighing just 12 grams, the matchbox-sized equipment can monitor ECG with clinical-grade accuracy, detect 40+ abnormalities with edge-based AI algorithms, needs no expertise, and can be used as a point of care device anytime, anywhere.
The startup deals with consumers, doctors, and businesses operating in the cardiology and digital health sector. It is solving the cardiac monitoring needs and making the advanced diagnosis available in close proximity when it is needed the most, acting as a Point of Care device anytime, anywhere.
"The market size of portable medical devices, which was worth $37.2 billion in 2019, is expected to be worth $85.1 billion by 2027, marking a growth rate at a CAGR of 11.35 per cent and indicating high potential for startups like Sunfox Technologies. This frugal and lean hardware technologies company comes as a ray of hope for the patients suffering from life-threatening ailments in remotest locations, providing them simple devices that can prevent them at early stages in a cost-effective manner," added Dr Apoorva Ranjan Sharma, president and co-founder, Venture Catalysts.
Sunfox Technologies is building the most innovative medtech venture with a vision to impact the next billion at the last mile and bring the high-end technologies to a commoner's pocket with ease, the company said.