Medtech company Sunfox Technologies, based in Dehradun, has successfully raised $7 million (equivalent to approximately 67 Indian rupees) in a Series A funding round. The round was led by prominent investors Ashish Kacholia, Lashit Sanghvi, Alchemy Capital, and 3one4 Capital.
The capital raised will be used to support the next stage of the company's growth. This includes broader expansion across India, development of global market entry capabilities, and an increase in research and development volumes.
Furthermore, the funds will be utilized to scale the indigenous cardiology diagnostics platform developed in India, while simultaneously developing regulatory, distribution, and commercial capabilities in priority international markets such as the USA, Europe, and Africa.
The company was founded in 2016 after its founders—Rajjat Jain, Arpit Jain, Sabit Rawat, Nitin Chandola, and Saurabh Badola—experienced the loss of a friend in college. They began exploring how technology could help bridge gaps in timely heart condition assessment and reduce recovery time after a heart attack.
Over the last decade, Sunfox has developed the Spandan ECG solution portfolio, applicable in personal, clinical, and institutional settings. These applications range from home ECG recording to use in clinics, hospitals, public health programs, and remote care networks.
The Spandan system enables the detection of suspected heart attacks using a smartphone, with results analyzed 24/7 by remote doctors. In private clinics, homes, and public health systems where the devices are used, local medical staff records the ECG via the Spandan platform, transmits it for remote interpretation, flags critical patterns, and refers the case for further treatment, thereby significantly reducing waiting times and travel.
Currently, approximately 60,000 Spandan devices are deployed across India, covering over 20,000 villages in states and union territories. The Spandan One platform is used annually to screen approximately 5 million patients, expanding access to cardiac assessment in various healthcare facilities.
According to the press release, the company holds regulatory approvals in India, Ghana, Kenya, Tanzania, and South Africa, and is pursuing approvals in the United States and the European Union.
Rajjat Jain, Founder and CEO of Sunfox Technologies, stated: 'This round provides us with the resources to take what we created in Dehradun to a much larger scale. We will invest heavily in R&D while expanding across India and building the capabilities needed to bring Sunfox and Spandan to global markets.'