Healthtech company Tricog Health has raised $8.5m in a Series B2 funding round from investors, including Omron Health Care and Sony Innovation Fund, bringing its total raised to $30m. Returning investors The University of Tokyo, Edge Capital, Inventus Partners, and SG Innovate also participated in the round.
“With this round, we are dedicated to extending our footprint in the US healthcare industry” and Asia and Africa. Additionally, our strategic alliances will enable us to serve the needs of heart patients at home for the first time, according to founder and CEO Charit Bhograj.
The Bengaluru-based firm plans to extend its footprint in the US, Asia and Africa and aims to serve heart patients at home for the first time through strategic alliances.
Tricog’s TriCare platform is a comprehensive tool for managing chronic diseases that allows for remote care of heart disease using medical data from wearables and home devices. With this funding round, Tricog has raised $30 million.
Tricog Health collaborates with state governments and works with nursing homes and private clinics, and its AI engine can identify 140 different cardiac conditions. The business asserts that its platform is helping it to capitalize on a growing $110 billion market potential.
The company aims to provide inexpensive cardiac diagnosis and management by strengthening alliances with public and private healthcare networks, including diagnostic laboratories and hospitals.
Tricog Health aims to provide a cardiac diagnosis for all
The health tech business, founded in 2015, currently makes $7 million in annual recurring income and intends to treble that amount over the next 18 months.
Tricog’s platform has been used by over 5,000 catheterization labs, hospitals, clinics, and diagnostic centers to help diagnose and treat patients with severe cardiac conditions, including heart attacks. The revelation claims that out of 12 million people screened, 500,000 have been found to have significant heart issues.
The business currently works with numerous state governments, including Goa and Karnataka. General practitioners can utilize the business’ technologies to carry out tasks typically performed by cardiologists, such as recognizing heart-related problems.
The company employs 57 doctors and is powered by an artificial intelligence engine that helps identify 140 different cardiac problems. Aside from hospitals, Tricog Health also works with nursing homes and private clinics.
The business raised $10 million in its most recent fundraising round in 2019. Since then, the business has been suffering the most from the financial crisis that has affected the majority of startups in the nation. The most recent round’s negotiations began in 2022, but it wasn’t officially finalized until March 2023.