Healthtech startup Sunfox Technologies successfully raised lately Rs 15 crore (around $1.78 million) in a pre-Series A funding round led by Venture Catalysts. It gained recognition on Shark Tank India and other participation in the round were investors such as Finvolve through the IA Growth Opportunities Fund I, Brew Opportunities Fund, Universal Group and RP Singhvi Group. Earlier, the startup had raised Rs 5 crore from USAID through SAMRIDH Health and LetsVenture. The total funding now is Rs 20 crore.
Sunfox Technologies was founded in 2016 by Rajat Jain, Arpit Jain, Saurabh Badola, Nitin Chandola and Sabit Rawat. It is an R&D lab that is focused on developing innovative healthcare technologies. Its flagship product is Spandan, a portable ECG device that connects to smartphones and provides clinically accurate 12-lead ECG readings. Users can easily detect heart attacks and monitor cardiac health in real-time with the help of the product. The device is currently being used by more than 30,000 individuals and in 20 different countries. The device has also reportedly saved more than 10,000 lives through early detection of heart conditions.
Sunfox Technologies is learned to expand its reach and enhance its flagship product with the help of the fresh capital. CEO Rajat Jain said that the new investment will enable the company to expand in India as well as internationally. He also added that Spandan is now becoming a common household device just as we have thermometers at home.
The journey of Sunfox is notable as it received investment support of Rs 1 crore from Shark Tank India judges Peyush Bansal, Namita Thapar, Anupam Mittal, Vineeta Singh and Ghazal Alagh. Its approach is innovative and based on strong backing. It is hence poised to make significant strides in improving cardiac health globally.
