Health company SigTuple will choose regional distributor relationships in the global market for medical devices.

The company has raised $34.5 crore, and it has teamed with HORIBA Medical and Genworks in India as part of its expansion goals.

As it reaches more recent markets like Southeast Asia, the Middle East, North Africa, Europe, and America, healthtech firm SigTuple is eager to work with local medical equipment wholesalers.

It has joined forces with Genworks and HORIBA Medical in India. It is in active talks with the major regional distributors in Southeast Asia and the Middle East and has a collaboration with Tawada Healthcare in Indonesia.

Following a recent fundraising investment of 34.5 crore rupees ($4.3 million), which was an extension of its Series C round, the expansion was announced. It has so far raised $44 million in total.

According to Tathagato Rai Dastidar, founder and CEO of the startup, which released its first product—a hardware and software solution—in late 2021, more than 100 of these gadgets have been installed throughout the nation.

Our most recent offering, the AI100, combines hardware and software to perform biopsies on two different samples: blood and urine. The gear consists of an automatic slide scanner that can digitise any physical specimen. The pathologist’s time reviewing slides is cut in half thanks to the AI platform’s analysis of the images and provision of clinical insights about the sample.

It has obtained CE certification for the AI100, granting it entrance rights into the European Union, the majority of Asia, and Africa. In order to reach North America, it has also submitted an application to the US FDA.

Dastidar said it’s possible for the goods to be put together for export markets. Business is a world of possibilities; if someone wants to organise it like a local assembly, which could aid in regulating the government, why not?

A new product is being created.

The business is also working on its second product, which will be ready in a year and will be more of a generic answer for microbiology, cytology, and histology. We are currently developing the prototype and want to get the CE-IVDR on the market by March 2024.

In India, the med-tech market was worth $10 billion a few years ago, and by 2025, it’s expected to reach $40 billion or more. He added, “We want to take advantage of the chance to expand worldwide while keeping the emphasis on increasing with the country.

“India is a vast and quickly expanding market, but it is quite price-sensitive,” he continued. As a result, the profit margins that any business may achieve here are far smaller than those in other markets, such as those in South Asian nations like Indonesia, Malaysia, and Thailand.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

Tamil Nadu Rejects NEP 2020’s Three-Language Formula Amidst Allegations of Hindi Imposition

The National Education Policy (NEP) 2020, introduced by the Indian government, has reignited a longstanding debate in Tamil Nadu concerning language policy and cultural identity. Central to this contention is the NEP’s recommendation of a three-language formula, which the Tamil Nadu government perceives as an attempt to impose Hindi on non-Hindi-speaking states, thereby challenging the […]

Read More
Latest

IIT Madras to Admit International Olympiad Medalists Without JEE Scores

In a groundbreaking move, IIT Madras has introduced a new admission pathway for undergraduate programs, allowing students who have excelled in International Olympiads to secure a seat without appearing for the JEE Advanced exam. This initiative, named ScOpE (Scholars for Olympiad and Emerging Sciences Program), aims to attract top-tier talent from across the globe. Who Can Apply? Students who have won gold, silver, […]

Read More
Latest

Starlink Partners with Airtel to Bring Satellite Internet to India

Elon Musk’s SpaceX has entered into a strategic agreement with Bharti Airtel to introduce Starlink’s satellite internet services in India. This move aims to enhance connectivity in remote and underserved regions of the country, where nearly 40% of the population lacks internet access. The partnership is expected to leverage Starlink’s low-orbit satellite technology and Airtel’s extensive telecom infrastructure to […]

Read More