Attune Technologies raises US$ 10 million from Qualcomm, Norwest

Bengaluru: Attune Technologies Pvt. Ltd, a Chennai-based healthcare technology company, has raised $10 million in Series B funding from Qualcomm Ventures and Norwest Venture Partners to expand its digital healthcare solutions footprint in the domestic and international market.

This was first reported by The Economic Times on Tuesday.

Attune had raised $6 million Series A funds from Norwest Venture Partners in December 2010 and $1 million from Singapore-based angel investors during 2010-12.

The company’s platform interfaces with over 1,100 devices such as lab analyzers and ICU machines to absorb labs into a health network. The new funds will help expand its healthcare solutions from the current 200 hospitals, laboratories and clinics to 25,000 such facilities globally within the next three years, the company said in a statement.

Arvind Kumar, founder and chief executive officer (CEO) of Attune said that technology can help enhance quality of healthcare delivery in India. “We are constantly upgrading our technology and innovating new solutions to make healthcare affordable, seamless and efficient for the entire healthcare value chain,” Kumar said. The company is looking at Africa, West Asia and South East Asia as part of its international expansion plans.

“Qualcomm is pleased to make the first investment from its $150 million Strategic Venture Fund in India, in Attune Technologies,” Karthee Madasamy, vice president, Qualcomm Ventures India said in a statement. Qualcomm said it will work with Attune in India and globally.

The healthcare technology space in India has seen growing interest in recent times. The Tata Group announced its intent to enter the digital healthcare business earlier this year. Online healthcare service provider Practo Technologies Pvt. Ltd raised $90 million in August this year taking its total fund raising to over $120 million to date.

Phaneesh Murthy, former CEO of software solutions provider iGate launched Zigy.com, a marketplace aiming to connect consumers with chemists and druggists and a patient-controlled electronic health record system in September 2015. Phaneesh Murthy Health and Life Care (PMHLC) has so far raised around $5 million in seed funding and is looking to raise $10-12 million in a Series A by the end of 2015. The Indian health care segment is estimated to grow to $280 billion in 2020, according to Murthy.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.