Data Vantage | Tricog Health, Qritive and Utown report funding updates

3 min readMar 16, 2023

Edition #257, 16 Mar 2023


Dear Reader,

Virtual diagnostic tools and services provider Tricog Health received $2.5 million this week from Japan-headquartered OMRON Healthcare Group in Series C funding.

The India-based healthtech startup had previously raised $5 million as part of the same round from UTEC, Sony Innovation Fund and SGInnovate. Its Series C share price is up 13.4% from its previous financing.

Founded by Charit Bhograj, Zainul Charbiwala, Udayan Dasgupta and Abhinav Gujjar, Tricog Health offers solutions to diagnose cardiovascular conditions remotely using artificial intelligence (AI). It announced a $10.5 million funding round backed by UTEC, Aflac Ventures and Dream Incubator in 2020.

Another healthtech startup, Qritive, boosted its coffers this week. The company, which uses artificial intelligence to improve cancer diagnosis and patient care, received $250,000 from India-based Exfinity Venture Partners.

The funding is part of a $7.5 million Series A round led by MassMutual Ventures that was announced in January. Qritive has so far received $3.25 million in equity funding as part of the round.

Qritive plans to use the proceeds from its Series A to develop new products and expand geographically. It currently operates in Singapore, India, and the US.

Other updates from DATA VANTAGE

Singapore-based metaverse platform Utown received $4.7 million from Northstar Group, East Ventures and other investors. Read our story for the details.

Green Li-ion, a Singapore-based battery recycling technology firm, received $12 million this week from Banpu NEXT and Equinor Ventures. The investment is part of a recently announced $20.5 million funding round.

SaaS startup ServiceQuik, the company behind SME business management software ZING, received nearly $207k this week.

Indonesian SME enabler BukuWarung recently reported a net loss of $19 million for the financial year ended December 31, 2021. The company’s increased spending on digital marketing and employee benefits during the year was a big contributing factor to the loss. Read our story for all the details.

StyleTribute, a Singapore-based second-hand luxury goods marketplace, turned a profit in the financial year ended Dec 31, 2021, after incurring losses in the previous two years. Its revenue grew by over 9% during the period.

India-based digital healthcare firm Practo slipped back into the red in the financial year ended March 31, 2021 after making a profit in the previous year. Its revenue declined by 8% during the period.

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