Tricog Health Services, a Bangalore-based company has raised an undisclosed amount of funding in its Series A round. The round saw participation from Inventus Capital Partners, Blume Ventures and a group of angel investors.
With the newly infused capital, the healthcare startup will use the money to further enhance its technology. It also plans to expand to all major cities and towns during 2016-17. The firm has built an add-on hardware for ECG machines that uploads the data and returns a diagnosis in 30-45 seconds.
Founded in 2015, Tricog is present in around 250 clinics, nursing homes and hospitals across 12 cities and towns in urban and rural areas. Till now, the company claims to have diagnosed over 1,00,000 patients, around 5,000 of whom were found with acute heart conditions that required urgent intervention.
The company’s solution is to install a cloud connected-ECG machine in primary and secondary care medical centres. The moment a doctor takes a patient’s ECG, the information is sent to their centrally located hub. So every time an ECG is performed with Tricog’s cloud-connected ECG device, a Tricog specialist will interpret it and send the report.
Charit Bhograj, founder and CEO of Tricog Health, said,
In India alone, five million people suffer heart attacks every year and three million of these don’t survive. The average time it takes to diagnose a heart attack in urban India is 360 minutes. The chance of survival with this delay is mere 20%. If this delay were reduced to 90 minutes, the survival probability jumps to 80%. Tricog’s aim is to change that patient’s 80% chance of death to an 80% chance of staying alive.
He further said that the next step for the company is to unleash the potential for the algorithm to be used in personal health devices and wearable devices.
Sanjay Nath, managing director of Blume Venture, who invested in this round, said,
Tricog’s deep data and algorithm-driven platform, augmented by a communicator can reach patients in urban areas, Tier 2 and 3 cities, and even remote locations. Blume is excited to partner with Dr Charit and the Tricog team in their journey to be a ‘virtual cardiologist’, providing real-time and accurate diagnoses, and timely cardiovascular care to potentially millions of Indians.