Companies

Perfint gets $7.2 m funding

Perfint Healthcare, a Chennai-based medical equipment company, has secured $7.2 million through venture funding to complete the development of its next generation oncology assistance products and also expand its presence globally.

Norwest Venture Partners (NVP), a global venture and growth equity investment firm, has led this series B round of funding along with the company's pervious investors, Accel Partners (India) and IDG Ventures.

The latter two have so far invested $3.5 million in the company.

Perfint's product, PIGA CT, leverages robotics and image processing to help clinicians to accurately access small and difficult to reach tumors in the lung, liver, pancreas and kidney, in order to detect early stage cancer.

Addressing a press conference here on Wednesday, Mr. Kumar said investors expected a turnover of $50-100 million over three to five years. He said “NVP would closely work with Perfint Healthcare and continue to invest in branding, if needed.”

Perfint's Co-founder, S. Nandakumar, said the company was planning to use the fund for expanding into the international markets such as Southeast Asia, Latin America, China and the U.S.; for creating next product line which was in early trial stage and for regulatory approvals.

Mr. Nandakumar said Perfint was founded by a group of healthcare device professionals who were earlier associated with GE Healthcare in India.

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Printable version | May 16, 2021 1:27:58 AM | https://www.thehindu.com/business/companies/Perfint-gets-7.2-m-funding/article16196511.ece

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