Key Points
- Sunfox Technologies raises $7 million in Series A led by Ashish Kacholia and 3one4 Capital
- Spandan ECG devices deployed in over 20,000 villages across India screening 5 million patients annually
- Company pursuing regulatory clearances in United States and European Union for global expansion
Sunfox Technologies, the Dehradun-based medtech company behind the Spandan portable ECG platform, has raised $7 million (approximately ₹67 crore) in a Series A funding round led by investor Ashish Kacholia, Lashit Sanghvi, Alchemy Capital and 3one4 Capital.
The funding round, the largest in the company’s history, brings together prominent names from Indian public markets and venture capital. The fresh capital will support Sunfox’s expansion across India, development of its international go-to-market capabilities and continued investment in research and development.
By the numbers
Key figures from this story- $7 million
- Series A funding raised by Sunfox Technologies
- 60,000
- Spandan devices deployed across India
- 5 million
- Patients screened annually using Spandan One
Spandan is a portable electrocardiogram platform, a device that records the electrical activity of the heart, designed for use across hospitals, clinics, telemedicine networks and home-based monitoring. The platform enables heart attack detection using a smartphone, with results reviewed by doctors remotely around the clock.
In practice, a frontline health worker captures an ECG using the Spandan device, shares it for remote interpretation, flags critical patterns and escalates the case for further treatment. This approach reduces waiting and travel time for patients in areas with limited access to cardiac specialists.
Spandan deployment
Around 60,000 Spandan devices have been deployed across India, reaching more than 20,000 villages across states and union territories. The Spandan One platform has been used to screen approximately 5 million patients annually, according to the company.
Sunfox was founded in 2016 by Rajat Jain, Arpit Jain, Sabit Rawat, Nitin Chandola and Saurabh Badola. The founders began the venture following the loss of a friend in college, exploring how technology could help address gaps in timely cardiac assessment.
“This round gives us the resources to take what we have built in Dehradun to a much larger stage,” said Rajat Jain, founder and chief executive officer, Sunfox Technologies. “We will invest deeply in R&D while expanding across India and building the capabilities required to take Sunfox and Spandan to global markets.”
The company has regulatory approvals in India, Ghana, Kenya, Tanzania and South Africa. It is currently pursuing regulatory clearances in the United States and European Union as part of its international expansion strategy.
Ashish Kacholia said he was pleased to invest in a company focused on making quality healthcare more accessible at the grassroots level.
Lashit Sanghvi, co-founder, Alchemy Capital Management, said Sunfox has built a strong foundation in cardiac diagnostics with the potential to scale from India to global markets. “We believe its focus on innovation, accessibility and long-term value creation makes this an exciting next phase of growth,” Sanghvi said.
In public health systems, the Spandan technology operates through a hub-and-spoke model. A nurse or health worker at a Primary Health Centre or Community Health Centre records an ECG locally and shares it with doctors or cardiologists at a district hub for review. This enables smaller health centres to access specialist input while identifying patients requiring urgent care for referral.
The company will use the Series A capital to scale its cardiac diagnostics platform domestically while developing regulatory, distribution and commercial capabilities across priority international markets including the United States, Europe and Africa.
Sunfox gained national visibility after securing investment from all five investors on the first season of Shark Tank India. The company has since expanded its presence to more than 15 countries, with products reaching healthcare providers across over 1,800 PIN codes in India.
3one4 Capital, one of the investors in this round, is an India-based early-stage venture capital firm founded by Pranav and Siddarth Pai, investing in technology-driven companies across consumer, enterprise, fintech, healthcare and deep tech sectors.
Your Questions, Answered
What is the Spandan ECG platform?
Spandan is a portable electrocardiogram device developed by Sunfox Technologies that records heart activity and enables remote diagnosis. It connects to smartphones and allows frontline health workers to capture ECGs that are reviewed by doctors remotely.
How much funding did Sunfox raise and from whom?
Sunfox raised $7 million (approximately ₹67 crore) in a Series A round led by investor Ashish Kacholia, Lashit Sanghvi, Alchemy Capital and 3one4 Capital.
How many Spandan devices are deployed in India?
Around 60,000 Spandan devices have been deployed across India, reaching more than 20,000 villages. The platform screens approximately 5 million patients annually.
Where is Sunfox expanding internationally?
Sunfox is pursuing regulatory clearances in the United States and European Union. The company already has approvals in India, Ghana, Kenya, Tanzania and South Africa, and operates in more than 15 countries.
