ten3T, Medical Grade Wearable Device Startup, Raises Seed Funding Led By pi Ventures
Bangalore based medical grade wearable device startup, ten3T announced that it has raised an angel round of funding from Pi Ventures. The round also saw participation by a group of angels, including V. Krishna Prasad, Co-Founder of Qikwel, Bhupen Shah and other angel investors from the Valley and Bangalore. ten3T has developed its first wearable medical device ‘Cicer’, which will make cardiac health easily accessible to everyone.
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ten3T builds wearable medical devices that collects and integrates medical grade data in real time. Besides manufacturing the devices, it deploys, manages and analyzes the data with predictive functioning. Each wearable device will include multiple sensors to collect clinical grade data, continuously streaming signals from ECG, pulse, SpO2, respiratory rate and temperature – all gathered within 30 seconds, all analyzed and reported in real time. ten3T will manage and analyze the continually streaming data on an intelligent cloud based platform to provide accurate medical grade data to doctors with analytics and predictive modeling. ten3T will be an end-to-end operator of the real time ECG monitoring business – building the hardware, software, data storage and data analytics.
ten3T founding team comes with rich experience in medical and biomedical fields. It is co-founded by Dr. Sudhir Borgonha, a physician and an entrepreneur (graduate of St. John’s Medical College, Bangalore and the Sloan School of Management, MIT) and two biomedical engineers, Rahul Shingrani, (Marquette University) comes with years of research and development experience in the medical device space and Prasad Bhat who has experience in regulatory and quality systems in medical devices.
Dr. Sudhir Borgonha, Co-founder & CEO, ten3T, says, “Medical care continues to be traditionally managed. With technological advances, there is an urgent need to build more powerful diagnostic capabilities coupled with interpretative tools. ten3T integrates its proprietary hardware and software to build convenience, cost benefits and intelligent reporting to the physician and patient. It is our vision to make cardiac care preventive, predictive and accessible to all.”
Manish Singhal, founding partner of pi Ventures, adds, “We are very excited to partner with the team at ten3T. Sudhir and his team have done some path breaking work in bringing out a compact and medical grade device. We believe that Cicer will make ECG and cardiac health monitoring easy, intelligent and more accessible for all, across India and globally. At pi Ventures, we are looking to support disruptive product companies in the Applied AI, ML and IoT space and ten3T presents a very compelling case.”
The funds will be deployed to beta test the company’s first device, Cicer in multiple healthcare settings, including doctors in private practice, nursing homes and for at-home monitoring.
Cicer monitors real time ECG, respiration, pulse and temperature and streams them simultaneously in real time to the doctor’s tablet and the nursing station. This empowers a number of smaller nursing homes without an ICU to offer ICU equivalent services when patients are walking around or even in their homes. Cicer can be used to get a spot ECG i.e. an instant reading or can be worn for hours (similar to a Holter monitor). The device is a self-enclosed, wireless 9 cm wide smart patch that is held against the chest for 20 seconds to generate an instant ECG or worn for several hours for continuous monitoring.
Rahul Shingrani, cofounder and CTO, says, “Being self-enclosed, the device requires little training. Collecting large volumes of clinical grade data will help us build predictive tools, bringing artificial intelligence into the clinic”.
In India, given the fact that 30% of deaths are caused with cardiac issues at the core and lack of an adequate number of cardiologists, we are on our way to claiming the unfortunate distinction of being the cardiovascular disease capital of the world with 70 million cases by 2025. As such we need to find unique ways to accurately monitor and diagnose cardiac function. ten3T will do just that by being an end-to-end operator of the real time ECG monitoring business – building the hardware, software, data storage and data analytics.
pi Ventures is India’s first applied artificial intelligence, machine learning and IoT focused early stage venture fund, founded by Manish Singhal, ex. cofounder and CEO of LetsVenture and prominent angle investor, and Umakant Soni, ex. Director of India for Science Inc. and cofounder AI BOT company. pi Ventures focuses on healthcare, logistics, retail, fintech and enterprise sectors. Backed by some of the leading entrepreneurs globally, pi Ventures brings hands-on product and entrepreneurial experience to the India venture investing ecosystem.
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