Indian healthtech startup 5C Network is using AI and ML to speed up radiology scan results

#healthtech #medicalscanning #remotediagnostics #remotehealthcare #startups

5C Network, a Bengaluru based healthtech startup, co-founded by Kalyan Sivasailam and Syed Ahmed in 2016, reduces the turnaround time to come out with the radiology test results - in just 42 minutes, and also ensures higher degree of accuracy. 5C Network has created an #AI technology platform, bringing together all the participants such as radiologists, hospitals, and diagnostic centres.

The radiology market is highly fragmented with these services present in hospitals, diagnostic centres. and even private clinics. According to industry reports, the Indian radiology market is estimated at a size of around Rs 45,000 crore.

In 2016, 5C Network started doing 26 radiology reports a month, and has now reached an average of 80,000. It has around 350 radiologists on its platform with 600 clients across the country.

The startup has raised around Rs 5 crore in funding till now from Unitus Ventures, Axilor, and the Centre for Innovation Incubation and Entrepreneurship (CIIE), the technology business incubator of IIM Ahmedabad. It is looking to raise another round of funding soon.

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This healthtech startup is using AI and ML to speed up radiology scan results

Few years ago, Syed Ahmed underwent an MRI scan and had to wait for three days to collect the radiology report. This triggered the idea for Syed and his friend, Kalyan Sivasailam, to create a digital platform for faster results.

Startup Funding Alert: Berlin's DeepSpin raises seed funding for its 'portable, ultra-low-cost' MRI system

#startups #medicaltechnology #medicaltech #diagnostictech #healthtech #mri #medicalscanners #forabettertomorrow #affordablehealthcare #ai #artificialintelligence

DeepSpin, a Berlin-based startup co-founded by Clemens Tepel, a former McKinsey consultant, and Pedro Freire Silva, a PhD researcher from KIT, that is developing what it describes as a “next-generation, AI-powered MRI imaging machine,” has raised €600,000 in seed funding.

Backing the round is APEX Digital Health, with participation from existing investors Entrepreneur First (EF) and SOSV, along with a number of unnamed angel investors. Including grants and earlier investments, it brings the total raised to €1 million pre-launch.

Yet-to-launch and still in the development phase, DeepSpin aims to build a new type of MRI system at a “fraction of the cost, weight and size” of existing systems. To make this possible, the startup has developed a new antenna technology combined with AI-controlled operation, which the startup is currently patenting.

It is very happy to note that they are removing all of the constraints with traditional MRI scanners, based on their proprietary technology, making MRI universally accessible for any patient, anywhere in the world.

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Berlin's DeepSpin raises seed funding for its 'portable, ultra-low-cost' MRI system

DeepSpin, a Berlin-based startup that is developing what it describes as a "next-generation, AI-powered MRI imaging machine," has raised €600,000 in seed funding. Backing the round is APEX Digital Health, with participation from existing investors Entrepreneur First (EF) and SOSV, along...