AI Powered Healthcare Startup Tricog Secured $10.5 Million in Series B Funding
Tricog, a Bangalore based healthcare analytics startup, has now secured $10.5 million in the funding, reports Business Insider.
The University of Tokyo Edge Capital, Aflac Ventures, Blume Ventures, and Inventus Capital, also participated in the Series B funding round. The funding will be used to improve the AI-powered platform for faster diagnosis, expand our product line. At the same time, Tricog plans to expand in Africa and Asia, including India, China, and Japan.
The investment comes two years after the Tricog Series A funding round, which brings the total company funding to $17.5 million.
Founded in 2015, Tricog offers ECG devices to doctors and a mobile app for the patients to find these doctors in case of emergencies. Patients can search for a doctor with the help of an ECG device and intimate them of their arrival.
The Business Standard report quoted Dr Charit Bhograj, CEO & Founder, as, “We have witnessed phenomenal growth from our initial investments, both in terms of footprints in new geographies as well as 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 a strong presence in Africa and Asia, including India, China, and Japan.”
In the same report Noriaki Sakamoto, Partner and Board Director, UTEC, Japan, quoted: “Tricog is a shining illustration of a multidisciplinary deep-technology innovation originating in Asia while solving a large global unmet need. 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.”
Tricog’s AI Platform
Since the raising of the previous round, the company claims to have grown its presence in around 12 countries in Africa and Southeast Asia. Tricog revealed that its Artificial Intelligence-powered platform had been used by more than 3 million patients across the globe for the screening, diagnosis, and wellness of acute as well as chronic heart diseases.
Tricog has just a few days back launched its InstaEcho platform. The platform is used for remote echocardiography with a focus on using the AI. The platform enables point of care cardiac ultrasound for the diagnosis of heart failure, screening for the congenital heart disease.
Tricog is also awaiting USFDA approval for its proprietary DeepRhythm platform for monitoring a real-time patient.