Economic Times: August 05, 2016
Bengaluru: Tricog Health Services, which manufactures cloud-connected ECG devices for faster and accurate diagnosis of heart conditions, has raised nearly Rs 12 crore from venture capital firms Inventus Capital Partners and Blume Ventures in its Series A round. It raised another Rs 2 crore from angel investors.
The Bengaluru-based health-tech startup, which was founded in January 2015 by a team comprising Dr Charit Bhograj, PhDs Dr Zainul Charbiwala and Dr Udayan Dasgupta and software architect Abhinav Gujjar, has manufactured its own hardware for ECG devices that can send information to a cloud. The company has a 24/7 specialist team that analyses the data and sends reports from its mobile app.
Tricog will use the funds to scale across the country and develop the technology, Dr Bhograj said. The company has already installed 250 devices in hospitals and clinics in Karnataka, and has also conducted trials in countries such as Malaysia and the Philippines.
"Our device helps not only in reducing the time for diagnosis but also ensures accuracy. We have filed a patent for our technology, all of which we built in Bengaluru," Bhograj said.
A novel product and a balanced founding team helped the Tricog attract VC investments.
"Data intensive problems are getting disrupted by machine-learning, which will soon be the case in every single industry," said Parag Dhol, managing director, Inventus.
"It was also the inter-disciplinary nature of the team that we liked. It is a complete team," he said.
Tricog plans to expand to cover all major cities and towns during 2016-17.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.