30 September 2019 | News
The funding will be used to bolster Agatsa’s existing platform apart from fuelling further innovation in the area of other medical devices and wearables
Agatsa has raised $1 million in funding from Indian Angel Network (IAN) and the Technology Development Board (TDB), Department of Science and Technology, Government of India.
The start-up is working in the field of creating affordable and pocket-sized healthcare devices that help in the early diagnosis and management of lifestyle diseases.
With this funding, Agatsa will scale up its operations and marketing along with expanding its global outreach. Their flagship products under the name of SanketLife 2.0 and SanketLife Pro+ are the world’s first and only portable medical-grade 12-LEAD ECG devices that can be carried around in the pocket.
Speaking about this, Rahul Rastogi & Neha Rastogi, Co-Founders, Agatsa, said, “Our first line of products under the label SanketLife are aimed at addressing the delay in getting cardiac care post the appearance of a symptom. Going forward, we plan to create a range of products including wearables that help in the timely diagnosis and management of non-communicable diseases. Our AI capabilities make us one of the very few companies in the world to have implemented the procedures and variables under the Minnesota Code. We are delighted to get IAN & TDB on board as investors and will leverage the capital infusion to bolster our platform, build a robust network of doctors, and find innovative ways to further reduce the response time.”
Speaking on the investment, Priyank Agarwal, IAN lead investor, said, “Everybody is privy to the alarming rise of heart-related problems in India amongst both the elderly and the young. Against such a backdrop, it is heartening to see start-ups such as Agatsa using cutting-edge technology to provide Indians with innovative and low-cost cardiac care services. Its unique, tech-led approach to affordable healthcare is solving some of the most pressing problems for a large consumer base comprising the general public, GPs, paramedics, healthcare companies, etc. We hope our contribution will help the company realize its potential to the fullest and wish the founders continued success.”
“There is an essential requirement to develop cutting-edge technology based Medical Devices indigenously, that are easy-to-use, affordable and accessible even in the far-flung areas of the Indian sub-continent. Agatsa Software Pvt Ltd is set to play a crucial role in achieving this objective. Technology Development Board (TDB) recognizes excellence in individuals and organizations for contributing to the development and commercialization of indigenous technologies. TDB is pleased to support SanketLife project by Agatsa, a start-up company which commenced its journey as a Department of Science & Technology (DST) supported incubatee. TDB wishes Agatsa’s team all the very best in their quest to manufacture advanced and affordable healthcare devices domestically,” representatives of the Technology Development Board (TDB), Government of India said in an official statement.
Agatsa has recorded ECG readings for over 100,000 users and more than 6,000 doctors are using the SanketLife devices.