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Sunfox Technologies Secures Funding for Spandan ECG Expansion
Sunfox Technologies, a medtech company based in Dehradun, has successfully raised $7 million (approximately Rs 67 crore) in a Series A funding round co-led by Ashish Kacholia, Lashit Sanghvi, Alchemy Capital, and 3one4 Capital. This startup previously acquired Rs 15 crore in a pre-Series A funding round in August 2024, which was led by Venture Catalysts with support from Finvolve through the IA Growth Opportunities Fund I and Brew Opportunities Fund, in addition to backing from Universal Group, RP Singhvi Group, and others. Notably, Sunfox also attracted investment from all five Sharks on the first season of Shark Tank India.
The newly obtained funds will be directed towards the next phase of growth, which includes expanding further across India, enhancing global go-to-market capabilities, rapidly scaling the organisation, and continuing its investment in research and development, as mentioned in a press release from Sunfox.
About Sunfox Technologies
Founded in 2016 by Rajat Jain, Arpit Jain, Saurabh Badola, Nitin Chandola, and Sabit Rawat, Sunfox Technologies is a medtech and R&D firm dedicated to creating affordable, portable, and AI-enabled healthcare solutions. The company’s mission focuses on enhancing access to quality diagnostics, especially in cardiac care within resource-constrained environments.
Spandan Portable ECG Platform
The flagship offering from Sunfox, the Spandan series, features a portable, medical-grade ECG platform designed for use in hospitals, clinics, telemedicine networks, and at-home patient monitoring. Spandan allows for ECG recordings to be conducted closer to patients and can identify cardiac patterns that may necessitate immediate medical intervention, thereby bridging the gap in situations where timely cardiac assessment is crucial.
Over the past decade, Sunfox has crafted a range of Spandan ECG solutions tailored for personal, clinical, and institutional applications—from at-home ECG recordings to clinics, hospitals, public health programmes, and remote care systems. Sunfox has extended its reach to over 15 countries, with its products available to healthcare providers in more than 1,800 PIN codes across India. Within public health systems, the technology can effectively operate using a hub-and-spoke model.
Impact and Reach
Approximately 60,000 Spandan devices have been deployed throughout India, covering over 20,000 villages across various states and union territories. The Spandan One platform is used to screen around 5 million patients each year, significantly broadening access to cardiac assessments across diverse healthcare environments. Sunfox competes with other players in the industry such as Alivecor and Tricog.
Meanwhile, Monitra Health has also secured fresh funding this year for its remote cardiac monitoring platform. Additionally, companies like Molbio Diagnostics are advancing portable point-of-care diagnostics through their battery-operated Truenat platform.
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