Endimension, a well being AI startup from India, has raised 23 million rupees (over $300,000) in seed funding from one of many nation’s largest angel traders, Inflection Level Ventures.
WHAT IT DOES
The startup was incubated on the Indian Institute of Expertise Bombay in 2018. It develops AI algorithms to routinely detect abnormalities and ailments from medical scans. Its AI platform known as ENDIM-AI-CXR is a scientific help software that spots COVID-19 patterns from chest radiographs, decreasing cases of misdiagnoses and growing radiologists’ effectivity.
Endimension, part of the NVIDIA AI Inception Program and the Microsoft for Startups Neighborhood, says its know-how is now getting used at round 100 hospitals and radiology labs throughout India.
WHY IT MATTERS
In line with a press launch, the seed funding shall be used to make use of new expertise for its upcoming product improvement. The brand new funds may also be deployed for analysis and boosting gross sales.
The World Well being Group recognises that occupational burnout intensifies the rising scarcity of healthcare staff globally. As there are fewer radiologists in opposition to the amount of medical photographs being generated through the pandemic, Endimension says it intends to bridge that demand-supply hole via its AI know-how.
Endimension is coming into a market the place its fellow Indian startup Qure.ai has already made its splash. It not too long ago secured a partnership with Fujifilm Company to equip the model’s good x-ray system with its AI software program known as qXR. The identical AI diagnostic software was additionally deployed by AstraZeneca Malaysia in some major care clinics for the early detection of lung most cancers. Furthermore, Qure.ai obtained a US FDA 510(okay) clearance for qER-Quant, a mind CT quantification software, that’s used to quickly assess the severity of a affected person’s mind harm.
In line with analysis agency MarketsandMarkets, the worldwide marketplace for AI in medical diagnostics is predicted to succeed in $3.9 billion in worth by 2025 from $505 million final yr, rising at a 50.2% CAGR.
ON THE RECORD
“There’s a international scarcity of radiologists resulting in radiologist burnout and affected person misdiagnosis. The variety of medical photographs is growing exponentially whereas radiologists are solely rising linearly. We wished to bridge this demand-supply hole utilizing our Radiology AI Platform. Our AI platform improves radiologist effectivity and reduces affected person misdiagnosis,” Endimension Founder and CEO Bharadwaj Kss mentioned.