Medtech company Sunfox Technologies raises $7M to scale cardiac diagnostics platform

Dehradun-based medtech firm Sunfox Technologies has successfully raised $7 million in a Series A funding round led by notable investors Ashish Kacholia, Lashit Sanghvi, Alchemy Capital and 3one4 Capital. The new funds will fuel Sunfox's expansion plans, focusing on strengthening its presence in India, bolstering global market outreach, ramping up research and development efforts, and enhancing its India-built cardiac diagnostics platform.

Founded in 2016, the company's founders - Rajat Jain, Arpit Jain, Sabit Rawat, Nitin Chandola and Saurabh Badola - were motivated to develop technology that could tackle the issue of timely cardiac assessment and expedite post-heart attack care. Sunfox's Spandan ECG solutions, spanning personal, clinical and institutional settings, have been instrumental in detecting suspected heart attacks using smartphones, with results being reviewed by remote doctors around the clock.

Since its inception, over 60,000 Spandan devices have been deployed across India, covering more than 20,000 villages in various states and union territories. The Spandan One platform is utilized to screen around 5 million patients annually, thereby improving access to cardiac assessment in diverse healthcare settings. The company already holds regulatory approvals in India, Ghana, Kenya, Tanzania and South Africa, and is currently pursuing clearances in the United States and the European Union.

Rajat Jain, Founder & CEO of Sunfox Technologies, expressed his gratitude to the investors for their belief in the company's potential, stating that the funding will empower Sunfox to take its Dehradun-based innovation to a larger stage, while investing in R&D and expanding into global markets.