Cardiotrack, an India-based provider health-tech firm, has on Monday announced that it has received $2 million in Pre series-A funding.
The funding is coming from a slew of investors, led by seasoned angel investor Girish Narasimhan, Managing Director and Principal, Corporate Finance Associates Worldwide Inc, Cardiotrack said in a statement.
The funding is also participated by seasoned professional and co-investor Y S Shashidhar, Advisor, Dubai Holdings LLC (former Partner and Managing Director at Frost Sullivan for Middle East, Africa and South Asia Region).
Previously, the firm had received an angel investment of $1.6 million from a cohort of ultra-high-net-worth individuals (UHNIs).
“We are thrilled to have secured this investment as we continue to innovate and expand our reach in our mission to drive positive change in the healthcare industry,
“Our revolutionary approach to healthcare screening not only enhances convenience for consumers but also enables health and life insurance providers to offer fast, comprehensive and personalized services, besides increased operational efficiency and improving our healthcare data analytics capabilities for faster and more accurate insurance underwriting,” said Avin Agarwal, Founder and Chief Executive Officer, Cardiotrack.
He said the investment further validates the venture’s direction and the immense value it brings in improving the healthcare experience for both providers and consumers.
Based in Bengaluru, Cardiotrack is a leading provider of data-centric healthcare screening technology and services through health and life insurance providers.
The firm delivers at-home pathology and radiology screening services, in 300+ locations through its pan-India network of diagnostic centers, technicians and phlebotomists equipped with its technology, to provide geographical coverage and turn-around time to its health and life insurance customers.
The firm’s unique screening technologies is the equivalent of a treadmill test, being conducted in the comfort of one’s home along with video-based recorded medical examinations.
Its medical and internet of things (IOT) grade diagnostics devices, workflow automation and health data digitization solutions empower health and life insurance providers to offer seamless onboarding experiences while enabling their customers to take control of their health.
Currently, the firm serves nine health and life insurance companies, including most of the largest insurers in India.
“Avin and the team are deeply committed to their mission to revolutionize healthcare screening,
“They also have a strong market validation by having many leading life and health insurance providers as their clients,” said Girish Narasimhan, seasoned angel investor, Member of the Board, Cardiotrack.
“We strongly believe the venture will rightfully cement its place among start-ups that are reshaping the future of healthcare,” he added.
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