Tricog raises $10.5 million in Series B funding

Medical technology startup Tricog has raised $10.5 million led by The University of Tokyo Edge Capital, alongside Japanese investors Aflac Ventures and Dream Incubator, and US-based impact investor TeamFund.

Existing investors Inventus Capital and Blume Ventures also participated in the Series B funding round.

Bengaluru-based Tricog, which provides cloud-based screening and diagnosis of chronic heart disease, says its platform has been used by over three million patients across 12 countries. Along with a team of medical experts, the company’s AI platform helps diagnose a patient’s cardiac ailments remotely.

With the latest funding round, Tricog has raised $17.5 million in total so far.

It is expected to utilise the money to expand into new markets and build out new products and services in the remote cardiology space.

“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 Charit Bhograj, founder and CEO of Tricog Health Services.

Tricog was the winner in the Top Innovator category at The ET Startup Awards 2019.

Tricog uses a mix of cloud-connected devices, AI and qualified experts to speed up the time it takes to diagnose a patient’s ECG. The service, which can be deployed remotely, has been installed at over 2,500 cardiac catheterisation labs, hospitals, clinics and diagnostic centres so far.

“Tricog is a shining illustration of a multidisciplinary deep-technology innovation originating in Asia while solving a large global unmet need,” said Noriaki Sakamoto, Partner and Board Director, UTEC. “…we were especially impressed with their scientific rigor, exemplary leadership, revenue prospects and commitment to saving lives.”

Apart from its remote ECG screening and diagnosis services, Tricog has also launched a remote echocardiography solutionutilising its AI algorithms to screen cardiac ultrasound scans. It has also sought US Food and Drug Administration approval for its real-time patient monitoring platform.

Source: The Economic Times

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