Medtech startup Cardiotrack recently announced that it has secured an undisclosed amount of funding from Singapore-based private equity platform Frontline Strategy Funds.
The Pre-Series round of investment also saw participation from other angel investors.
The company plans to use these funds to grow its customer base in India and international markets, as per an official statement.
Talking about the infusion of funds, Cardiotrack CEO Avin Agarwal said, “With the involvement of Frontline Strategy Funds and associated investors, we are confident of increasing our patient scan rate by 10X within the current year. With the strong industry network and experience, the role of investors will be a booster to our growth trajectory.”
Cardiotrack was founded by Avin Agarwal and Ashim Roy in 2014. It is an AI-based diagnostics company that is improving heart health outcomes through early diagnosis. The startup is aimed at bridging the gap between healthcare providers and chronic patients for affordable access to healthcare and better disease management.
Based in Singapore, the company is present in more than 16 countries in the Southeast Asia region.
The company offers portable medical devices, report interpretation, and medical consultation for home screening, corporate wellness screening, and health camps to support chronic patients anywhere and anytime.
Commenting on the recent investment, Managing Director of Frontline Strategy Funds, Atim Kabra said, “Avin and his team have built a strong business that leverages technology to bring portability and speed to reliable patient screening and consultation. We are excited to be a part of Cardiotrack’s journey to bring innovative care delivery models alongside the power of IoMT – the internet of medical things to reduce the cost of healthcare delivery.”
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