Agatsa raises $1 million in funding led by IAN and the Technology Development Board, Government of India
IMT News Desk
September 25, 2019, New Delhi: Agatsa, India’s most agile health solutions innovator, 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, Mr. Rahul Rastogi & Ms. 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.In a short span, Agatsa has recorded ECG readings for over 100,000 users and more than 6,000 doctors are using the SanketLife devices. These devices are clinically validated to have 98% accuracy compared to traditional ECG devices and provide swift reports that are authenticated and reviewed by doctors within 10 minutes. Going forward, Agatsa is planning to introduce a wearable device offering early detection of 17 different diseases such as diabetes, epilepsy, obesity, anxiety, and neuropathy, etc.Agatsa has cracked partnership deals with various B2B clients, offering emergency response to elderly population and cardiac patients. The start-up further plans to bolster its service portfolio by integrating an emergency ECG review services into the Agatsa app to ensure seamless cardiac support to B2B users like hospitals, PHCs, Polyclinics etc. The start-up will also expand into other devices that help in the management of other non-communicable diseases like blood pressure, diabetes etc.
