Sunfox Technologies Raises $7 Million Series A to Expand Spandan ECG Platform
With the new capital, Sunfox plans to strengthen the Spandan portfolio, expand its engineering and organisational capabilities.
Dehradun-based medtech startup Sunfox Technologies has raised $7 million (around ₹67 crore) in a Series A funding round led by investor Ashish Kacholia, with participation from Lashit Sanghvi, Alchemy Capital and 3one4 Capital.
The company plans to use the fresh capital to expand its portable cardiac diagnostics platform Spandan across India, invest in research and development and build capabilities for international markets.
The latest round is the largest funding round in Sunfox’s history. The company said the capital will support deeper expansion in India, continued R&D, organisational scale-up and the development of regulatory, distribution and commercial capabilities for global markets, including the US, Europe and Africa.
Founded in 2016 by Rajat Jain, Arpit Jain, Sabit Rawat, Nitin Chandola and Saurabh Badola, Sunfox began as a research and development venture in Uttarakhand. The founders developed the idea for Spandan after the loss of a college friend, eventually building the company around portable cardiac diagnostics.
Its flagship Spandan platform is a portable ECG solution designed for personal, clinical and institutional use. It enables frontline healthcare workers to record an ECG and share the results with doctors remotely for interpretation. The platform is also used in public-health settings where patients can be screened locally and cases requiring further assessment or treatment can be referred to higher-level facilities.
According to Sunfox, around 60,000 Spandan devices have been deployed across India, reaching more than 20,000 villages across states and union territories. The company said its Spandan One platform is used to screen approximately 5 million patients annually.
Spandan One provides a digital layer for remote ECG review, case coordination and tele-ECG network management. In a hub-and-spoke model, nurses and health workers at primary and community health centres can conduct ECG tests locally and share them with doctors or cardiologists at district-level hubs for review. Patients requiring further treatment can then be referred to appropriate healthcare facilities.
Sunfox said it currently has regulatory approvals in India, Ghana, Kenya, Tanzania and South Africa, while it is pursuing clearances in the United States and European Union. The company has also expanded its presence to more than 15 countries, with its products reaching healthcare providers across more than 1,800 PIN codes in India.
The latest funding follows a ₹15 crore pre-Series funding round announced in 2024, led by Venture Catalysts, with participation from Finvolve, Brew Opportunities Fund, Universal Group, KP Singhvi Group and HNIs. That round brought the total capital raised in that funding tranche to ₹20 crore, including an earlier ₹5 crore investment from USAID through SAMRIDH Health and LetsVenture.
Sunfox had earlier gained national attention after securing an all-Sharks deal on the first season of Shark Tank India. The company has since expanded its Spandan portfolio across personal, clinical, institutional and public-health applications.
Founder and CEO Rajat Jain said the latest round will give Sunfox the resources to take what it has built in Dehradun to a larger market, while continuing to invest in R&D and expanding across India and international markets.