Padma Bhushan Dr. Ramakant Panda, Padmashri Dr. Tejal Patel, Dr. Ashish Parikh and industry veterans invest INR 125 million in the homegrown med-tech company AGATSA
New Delhi: Agatsa, the leading Medtech company in the cardiac problem diagnostic segment, has raised INR 125 million to grow business operations and expand the product line. The ‘Made In India’ MedTech company aims to revolutionize the cardiac care industry in India. Agatsa has innovated the world’s first pocket 12-Lead ECG device which is 99% accurate and is being used by both doctors and heart patients in India for quick diagnosis/detection of cardiac problems. The device is very simple to use, affordable and pocket-sized anyone can easily use it on the go.
With this new funding, India’s homegrown med-tech brand is ready to scale new heights and make its products more accessible to its consumers. Till now, Agatsa has made its mark as the first B2C med-tech brand in India, and now they are venturing into B2B tie-ups with big hospitals and telehealth companies. Key investors include seasoned medical experts Dr. Ramakant Panda, MCh, Chief Consultant for Cardiovascular Thoracic Surgery and the Vice Chairman and MD of the Asian Heart Institute, BKC, Mumbai; Dr. Tejas Patel, a renowned cardiologist and Chairman of Apex Heart Institute, Ahmedabad; Dr. Ashish Parikh, Interventional Clinical Cardiologist and Chairman of Heart and Vascular Clinic in Delaware, USA, Ahmedabad based Desai Family and Mr. Hemal Patel, a successful serial entrepreneur. Fairprep Ally (India) Pvt. Ltd. Represented by CEO Nirav Thakkar, based in Ahmedabad, Gujarat has facilitated the funding transaction as the investment banker.
Agatsa has been aggressively expanding its B2B collaborations with hospitals, digital health firms, diagnostic labs and local clinics. SanketLife is the flagship product of Agatsa, which is an Internet of Things (IoT) platform consisting of a portable and touch-based ECG machine that has been designed to make heart health screening easier and more affordable for everyone via the Smartphone app and a state-of-the-art cloud platform. Agatsa is also gearing up for expansion in the US and European markets with their CE and FDA certification under process.
The key task is to make these affordable pocket-sized ECG machines and other devices, that help in the timely diagnosis and management of cardiac diseases, accessible to each household and every nook and corner of the country. As much as it is important to maintain a healthy lifestyle, it is vital to keep health in check and regularly monitor it. Agatsa also provides online and remote support of a cardiologist who can review the ECG report in a matter of a few minutes and can help save lives in fatal cases.
Neha & Rahul Rastogi, Co-Founders, Agatsa said that “When we started Agatsa, our mission was to make cardiac monitoring affordable and accessible to each household like a thermometer, but we never thought it will go on to become a game-changer in the medical device industry and doctors will adopt the device and SanketLife platform for quick diagnosis and urgent care of their patients. This is our 4th round of funding, and we intend to grow our footprints in international markets along with growing rapidly in the domestic market aggressively with this funding. As soon as we receive our FDA we are set to fly in international markets with our most affordable ECG. We would be gearing up for our next round of funding in the next 5-6 months and this would be our series A round.”
Shaival Desai, a member of Desai Family Office, the lead investor, stated: “The current urban lifestyle has resulted in several lifestyle illnesses such as stress, diabetes etc. It is imperative that these illnesses are diagnosed at the earliest possible time so that effective treatment can be provided. With SanketLife, everyone can easily track the advent of these illnesses from the comfort of their homes and receive consultation from top-notch cardiologists. We’re excited to partner with Sanketlife in their effort to alleviate lifestyle illnesses backed by some of the most prominent veterans.”
Hemal Patel said, “Agatsa has developed a disruptive innovative device that saves lives by accurately indicating heart problems in a timely manner through its keychain-sized ECG machine that sells at an extremely affordable price. Their innovative roadmap will further disrupt traditional medical technology for years to come..”