New Delhi: Bengaluru-based Tricog Health Services Pvt Ltd on Friday said it had raised an undisclosed amount in a Series A round from Inventus Capital Partners, Blume Ventures and a group of angel investors.
The money will be used to enhance technology, said Tricog, which was founded in January 2015 and has built add-on hardware for ECG (electrocardiography) machines that uploads the data and returns a diagnosis in 30-45 seconds.
According to the company, if a person is facing a heart attack, it usually takes 5-6 hours before she receives critical care. In countries like the US, the average is closer to 45 minutes. During this time, the heart goes through irreparable damage. The primary reason is a lack sufficient expertise in reading the ECG.
Tricog’s solution involves installing a cloud connected-ECG machine in primary and secondary care medical centres such as clinics, polyclinics, nursing homes and hospitals. The moment a doctor takes a patient’s ECG, the information is sent to their centrally located hub where a qualified expert is available round the clock. So every time an ECG is performed with Tricog’s cloud-connected ECG device, a Tricog specialist interprets it and sends the report through an SMS as well as a message on their mobile app.
“In India alone, five million people suffer heart attacks every year and three million of these don’t survive. The average time it takes to diagnose a heart attack in urban India is 360 minutes. The chance of survival with this delay is mere 20%. If this delay were reduced to 90 minutes, the survival probability jumps to 80%. Tricog’s aim is to change that patient’s 80% chance of death to an 80% chance of staying alive,” said Charit Bhograj, founder and chief executive officer of Tricog, in a statement.
“Advanced algorithms and data visualization help our expert doctors, ensuring accuracy and speed. The next step would be to unleash the potential for the algorithm to be used in personal health devices and wearable devices,” he added.
Tricog is present in almost 250 clinics, nursing homes and hospitals across 12 cities and towns in urban and rural areas. So far it has diagnosed 100,000 patients, over 5,000 of whom were found with acute heart conditions that required urgent intervention.
It plans to expand to all major cities and towns during 2016-17.
“Tricog’s deep data and algorithm-driven platform, augmented by a communicator (a proprietary hardware device manufactured by them) can reach patients in urban areas, Tier 2 and 3 cities, and even remote locations. Blume is excited to partner with Dr Charit and the Tricog team in their journey to be a ‘virtual cardiologist’, providing real-time and accurate diagnoses, and timely cardiovascular care to potentially millions of Indians,” said Sanjay Nath, managing director of Blume.