The new financing will be used to boost the company geographic expansion plans, expand Product Portfolioand support regulatory approvals, the company said Tuesday.
Founded in 2015 by Tathagato Rai Dastidar, SigTuple automates manual microscopic examinations using technologies such as artificial intelligence and robotics. The company’s device captures high-quality images of diseased samples through a camera lens, which are then analyzed by AI. The results are sent to experts through a cloud-based platform, streamlining the overall diagnostic process.
“As AI already does about 95% of an expert’s work, the review time per sample is also drastically reduced. Today, if an expert takes five or ten minutes to review a sample and draw a conclusion, that can now be done in one minute, meaning that the same expert who analyzes 50 samples today can easily analyze 300 or 400 samples in a day,” Dastidar said.
To date, SigTuple has raised a total of $50 million.
The company has already expanded into Southeast Asia, the Middle East and North Africa, and has plans to enter Europe and the Americas. In September 2023, its flagship product, AI100, received 510(k) clearance from the US Food and Drug Administration (FDA).
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Last week, SigTuple launched the beta version of its new device, AS76, capable of analyzing various sample types including tissue, sputum, blood, and urine. The company also plans to enter the point-of-care (PoC) market next year, leveraging microfluidics and imaging technology to perform essential tests in minutes. “SigTuple is bringing the power of optics, robotics, microfluidics, and AI to healthcare. With the upcoming launch of its second product and the point-of-care in development, it will be the only company in the world to cater to all the digital health needs of the pathology department – hematology, histopathology, and cytology,” said Ramesh Byrapaneni, Managing Director, Endiya Partners.
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