Healthcare analytics firm Tricog said that it has raised $10.5 million in Series B funding. The new round was led by UTEC – The University of Tokyo Edge Capital, Japan; Aflac Ventures, LLC, Japan; TeamFund, USA and Dream Incubator, Japan. Existing investors Inventus Capital and Blume Ventures also participated in this round, said the company.
The investment comes two years after Tricog’s Series A funding round, bringing the company’s total funding to $17.5 million. Since the previous round, Tricog has grown its presence in over 12 countries in South-East Asia and Africa. Tricog’s AI-powered platform has been used by over 3 million patients globally for wellness, screening and diagnosis of acute as well as chronic heart diseases, said the company.
Founded in 2015 by Dr. Charit Bhograj, Dr. Zainul Charbiwala, Dr. Udayan Dasgupta and Abhinav Gujjar, Tricog provide Virtual Cardiology Services to remote clinics, powered by AI and medical experts.
The company claimed that Tricog’sInsta ECG platform has been deployed in over 2,500 Cathlabs, Hospitals, Clinics and Diagnostic Centres to help diagnose and manage patients with critical cardiac diseases including heart attacks. The platform has been deployed across both government and private health care networks and has demonstrated a significant reduction in mortality and morbidity.
“Through this round of investment, we reinforce our commitment to strengthen our AI-powered platform for faster diagnosis, expand our product line and establish strong presence in Africa and Asia including India, China and Japan,” said Dr. Charit Bhograj, CEO & Founder, Tricog.
Tricog has recently launched the InstaEcho platform for remote echocardiography with a focus on using AI to enable Point of Care Cardiac Ultrasound for the diagnosis of Heart Failure, Valvular Heart disease and screening for Congenital Heart Disease. Tricog is also awaiting USFDA approval for its proprietary DeepRhythm platform for real-time patient monitoring.
“As the lead investors of their Series A round in 2018, we were especially impressed with their scientific rigor, exemplary leadership, revenue prospects and commitment to saving lives. We are now proud to lead their Series B as well, and supplement Tricog with Japanese medical device partnerships and R&D collaborations,” said Noriaki Sakamoto, Partner and Board Director, UTEC, Japan.