Indian health-tech platform 5C Network bags $1.2 million in pre-Series A funding from investors – Business News , Firstpost

The firm plans to make use of the raised funds in the growth of its shopper base to extra hospitals and diagnostic centres.

Bengaluru based mostly digital Radiology platform 5C Network (India) Private Limited has raised $1.2 million (Rs 8.84 crore) in its pre-Series A funding spherical from present investors Unitus Ventures and Axilor Ventures. With the present spherical, the startup has raised Rs 13 crore in funding thus far. 5C Network, which was based by Kalyan Sivasailam and Syed Ahmed, permits hospitals and diagnostics centres to add scans to the cloud the place automated knowledge extraction and evaluation is completed by its proprietary algorithm.

The startup says it has partnered with over 600 hospitals and diagnostic centres throughout 27 states in India. These hospitals and diagnostics centres ship greater than 100,000 instances a month to the corporate for prognosis. In the following one 12 months, 5C Network goals to broaden its shopper base to over 2,500 hospitals and diagnostic centres. In the previous six months, the corporate mentioned it recorded about 3,300 scans per day amid the coronavirus pandemic.

Through using its platform and synthetic intelligence (AI) algorithms, the corporate claims that it reduces the turnaround time for a radiology report from the everyday 48 hours to simply 42 minutes whereas making certain the very best diploma of accuracy. This permits hospitals to considerably scale back their “door-to-needle” time, particularly for essential instances, ensuring that sufferers obtain life-saving intervention sooner, it claims.

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