AI medtech startup Tricog nets $10.5m in series B round

Tricog, an AI-driven healthcare analytics firm based in India, announced that it has raised US$10.5 million in a series B funding round from the University of Tokyo Edge Capital, Aflac Ventures, Dream Incubator, and US-based TeamFund.

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

Tricog founders (L-R): Zainul Charbiwala, Abhinav Gujjar, Udayan Dasgupta, and Charit Bhograj / Photo credit: Tricog

The round comes two years after Tricog’s series A raise, bringing the startup’s total funding to US$17.5 million.

The company plans to use the latest investment to strengthen its AI-powered platform for faster diagnosis, expand its product line for remote patient monitoring, and establish a strong presence in Africa and Asia, particularly in India, Japan, and China.

Founded in 2015, Tricog provides virtual cardiology services to remote clinics. Its InstaECG product helps diagnose and manage patients with critical cardiac diseases. It has been deployed in over 2,500 cath labs, hospitals, clinics, and diagnostic centers, according to a statement.

The company recently launched InstaEcho, a platform for remote echocardiography focusing on using AI to enable point-of-care cardiac ultrasound for diagnosing heart failure and valvular heart disease and screening for congenital heart disease. It is also awaiting the approval of the US Food and Drug Administration for its DeepRhythm platform, which is designed for real-time patient monitoring.

“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,” said Yousuf Mazhar, partner at TeamFund.

Recently, Singapore-based Eko.ai, a similar player in the space, also secured US$4 million in funding from Sequoia India and Singapore government-linked EDBI as it seeks to democratize echocardiography. It said it will use the funds to accelerate commercial operations in the US and Europe.

See: Why some medtech products fail to take off, despite rising healthcare spending