IDG Ventures India and Erasmic Venture Fund, early stage investors, on Thursday announced an investment of $3.5 million in a start-up healthcare devices company that has come out with a breakthrough technology involving minimum evasive procedure to assist the CT image method to diagnose diseases like cancer.

Perfint Engineering Services Pvt Ltd, a company founded by a team of former GE Healthcare devices professional, has developed PIGA CT, a standalone mobile needle guidance system that helps in precise diagnosis of tumour, significantly reducing the risk to the patient.

Addressing a press conference here on Thursday, Mr Nandakumar S, one of the founders of the Chennai-based Perfint, said the device will be launched commercially by the first quarter of the next financial year.