Companies

Tricog raises $10.5-million Series B funding from Japanese, US investors

Our Bureau Bengaluru | Updated on March 03, 2020

Inventus Capital, Blume Ventures also re-invest in healthcare analytics company

Healthcare analytics firm Tricog has raised $10.5 million in a Series B funding round from Japan’s UTEC (University of Tokyo Edge Capital) Aflac Ventures and Dream Incubator, and US-based TeamFund. Existing investors Inventus Capital and Blume Ventures also participated in the round.

The investment comes two years after Tricog’s Series A funding round, bringing the company’s total funding to $17.5 million. Since the previous round, Tricog has grown its presence in over 12 countries in South-East Asia and Africa. Its AI-powered platform has been used by over three million patients globally for wellness, screening and diagnosis of acute as well as chronic heart diseases, said a company statement.

Founded in 2015 by Charit Bhograj, Zainul Charbiwala, Udayan Dasgupta and Abhinav Gujjar, Tricog leverages its medical and technology expertise to provide virtual cardiology services to remote clinics, powered by AI and medical experts, said the release. Its Insta ECG platform has been deployed in over 2,500 cathlabs, 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 healthcare networks and has demonstrated a significant reduction in mortality and morbidity, it added.

“We have witnessed phenomenal growth from our initial investments, both in terms of footprints in new geographies and revenue growth. 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,” said Bhograj, CEO and co-founder.

Tricog recently launched the InstaEcho platform for remote echo-cardiography 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. The company is also awaiting USFDA approval for its proprietary DeepRhythm platform for real-time patient monitoring.

Yousuf Mazhar, Partner at TeamFund, said: “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.”

Published on March 03, 2020

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