Dehradun-based medtech startup Sunfox Technologies has raised $7 million (around ₹67 crore) in a Series A funding round led by Ashish Kacholia, Lashit Sanghvi, Alchemy Capital and 3one4 Capital, the company told Inc42.
Founded in 2016 by Rajat Jain, Arpit Jain, Sabit Rawat, Nitin Chandola and Saurabh Badola, Sunfox builds portable, AI-enabled cardiac diagnostic devices. Its Spandan devices let users and healthcare workers record ECGs on a smartphone and share them with doctors for remote interpretation — with the platform flagging cardiac patterns that need urgent attention. The companion Spandan One platform supports screening of around 5 million patients annually.
The scale is striking: Sunfox claims to have deployed around 60,000 Spandan devices across India, reaching more than 20,000 villages and serving hospitals, clinics, telemedicine networks, public health programmes and home-based monitoring. It holds regulatory approvals in India, Ghana, Kenya, Tanzania and South Africa, and is pursuing clearances in the US and the EU. The fundraise follows a ₹15 crore (~$1.8M) round led by Venture Catalysts in 2024.
The capital will expand the Spandan platform across India, grow the team, and fund R&D, clinical evidence, engineering and new cardiac technologies — while building regulatory, distribution and commercial capabilities across the US, Europe and Africa.
Why it matters for founders
Sunfox is a masterclass in deeptech patience: ten years from founding to Series A, built on real deployment numbers (60,000 devices, 20,000 villages) rather than pitch decks. Cardiac care in rural India is a massive whitespace — specialists are concentrated in metros, and a portable ECG plus a remote doctor closes that gap. For medtech founders: approvals across five countries and a 5M-patient screening engine are the traction metrics that unlock global expansion capital. Regulators first, fundraising second.