Medical equipment company Perfint Healthcare has secured $7.2 million in Series B venture funding in a round led by private equity firm Norwest Venture Partners (NVP) and sitting investors Accel Partners (India) and IDG Ventures.
“With this latest infusion of funds, we look forward to serving emerging and advanced markets and graduate to the therapy space,” said S Nandakumar, co-founder and CEO, Perfint.
Chennai-based Perfint will use the capital to complete development of its next-generation interventional oncology assistance products and expand its presence in South East Asia, West Asia, Europe and the US, Nandakumar said. Mohan Kumar, executive director of NVP India, will join Perfint’s board of directors.
Perfint’s award winning product, PIGA CT, leverages robotics and image processing to help clinicians accurately access small and difficult to reach tumours in the lung, liver, pancreas and kidney, to detect early stage cancer. Perfint’s technology is impactful in emerging markets where cancer rates are high and continue to rise each year, and where there is an acute need for low cost, easy to use and minimally invasive outpatient procedures for cancer detection and therapy.
Perfint was founded in 2005 by S Nandakumar and a team of healthcare device professionals who were earlier associated with GE Healthcare. The team possesses over 100 years of cumulative healthcare technology and management experience. Perfint recently signed an MoU with General Electric to market its product in India to users of CT scanners.
“We are very happy with the clinical adoption of PIGA CT in India. Within a year of launch, we have sold 40 units and have assisted clinicians in over 800 procedures,” Nandakumar said.