Like many other start-ups, the story of SigTuple started in the drawing room of one of its co-founders, in July 2015. But unlike many of its peers, the three-year-old start-up has marquee investors, such as Accel Partners, Chiratae Ventures (earlier IDG), Bansals of Flipkart and Axilor, founded by Infosys founders, on board. While many of them came in during its Series A, they stayed on and ponied up the entire amount for Series B. This included even the Bansals, who had come in as angel investors.
They took lesser time deciding on the Series B round for $19 million — raised this June and led by Accel Partners and IDG Ventures — compared to Series A for $5.8 million, in February 2017. It took six months to close the first and three months for the second.So, why are its investors so excited about SigTuple?
“What gets us excited is the team’s fresh perspective on the age-old diagnostics space. They are deploying new-age technologies such as AI, while not making significant changes to existing clinical workflow. Therefore, adoption is easier,” says Ranjith Menon, executive director, Chiratae Ventures.
Manish Singhal, founding partner, Pi Ventures adds: “They have digitised a process that was being done through chemical processes all these years. They have built an AI engine and a platform that can do haematological tests that are non-trivial.” Founded by former American Express executives Rohit Kumar Pandey, Tathagato Rai Dastidar and Apurv Anand, SigTuple digitises the testing process for labs, hospitals and clinics.
SigTuple’s digital scanner, named AI 100, digitises any kind of biological sample including blood, urine and semen. This data is then pushed to a cloud-based platform, named Manthana, on which AI algorithms