Sunfox Technologies, a health tech startup known for its innovative products and appearance on Shark Tank India, has successfully raised an additional ₹15 crore in a pre-series funding round. The round was led by existing investor Venture Catalyst, with new participants including Finvolve through the IA Growth Opportunities Fund I, Brew Opportunities Fund, Universal Group, KP Singhvi Group, and several high-net-worth individuals (HNIs). This follows a prior investment of ₹5 crore from USAID through SAMRIDH Health and LetsVenture, bringing the total funds raised in this round to ₹20 crore.
Sunfox Technologies plans to utilize this new capital to accelerate its expansion both in India and globally, with a particular focus on scaling its flagship product, Spandan. Spandan is a smartphone-based portable ECG device that offers clinically accurate 12-lead ECG readings, enabling real-time heart attack detection and cardiac health monitoring. Already in use by over 30,000 people across 20 countries, Spandan has played a crucial role in saving more than 10,000 lives through early detection of heart conditions. This technology is especially vital as India faces a rise in heart attack cases post-COVID-19.
CEO Rajat Jain highlighted the significance of this funding, stating that it will drive the rapid growth of Spandan, aiming to make it as commonplace as a household thermometer. The company envisions a future where heart attacks become as preventable as common illnesses, with Spandan widely used in homes and clinics worldwide.
Sunfox, based in Dehradun, a Tier 2 city, challenges the notion that impactful health tech innovations only emerge from metro cities. The company has established an advanced R&D and manufacturing facility in the region, garnering attention from prestigious institutions like Oxford and Wharton. Sunfox first gained widespread recognition when all five investors on Shark Tank India—Namita Thapar, Peyush Bansal, Anupam Mittal, Vineeta Singh, and Ghazal Alagh—invested in the company during its debut on the show.
Venture Catalyst co-founder Dr. Apoorva Ranjan praised Sunfox’s mission to make heart health accessible globally, expressing excitement about the company’s potential to revolutionize the healthcare landscape with Spandan.
Founded in 2016 by Rajat Jain, Arpit Jain, Saurabh Badola, Nitin Chandola, and Sabit Rawat, Sunfox Technologies is rapidly transforming the cardiac diagnostics space with the portability, affordability, and user-friendliness of Spandan.