Shark Tank India-featured healthtech startup Sunfox raises Rs 15 crore

Shark Tank India-featured healthtech startup Sunfox Technologies has raised Rs 15 crore (or around $1.78 million) in a pre-Series A funding round.

The round was led by Venture Catalysts, with participation from Finvolve through the IA Growth Opportunities Fund I, Brew Opportunities Fund, Universal Group, and RP Singhvi Group. 

Prior to this round, the Dehradun-based startup raised Rs 5 crore in funding from USAID through SAMRIDH Health and LetsVenture. The latest investment brings its all-time raise to Rs 20 crore.

What does Sunfox Technologies do?

Founded in 2016 by Rajat Jain, Arpit Jain, Saurabh Badola, Nitin Chandola, and Sabit Rawat, Sunfox is an R&D lab that aims to develop cutting-edge healthcare technologies for the digital world.

The startup has developed a flagship product, Spandan, a smartphone-based portable ECG device that provides clinically accurate 12-lead ECG readings, allowing users to detect heart attacks and monitor cardiac health in real-time.

Sunfox claims that the device is being used by over 30,000 individuals across 20 countries and reportedly saving more than 10,000 lives through early detection of heart conditions.

Expansion plans for Spandan

Sunfox Technologies plans to use the newly secured funds to expand its reach and enhance its flagship product, Spandan. 

"This capital injection will enable us to scale rapidly, both in India and internationally," said CEO Rajat Jain.

"It will fuel our growth and bring Spandan into homes and clinics worldwide. We envision a future where heart attacks are as preventable as fevers, with Spandan becoming as ubiquitous as a household thermometer."

Notably, the startup raised Rs 1 crore from Shark Tank India judges, including Peyush Bansal, Namita Thapar, Anupam Mittal, Vineeta Singh, and Ghazal Alagh.