AI brain imaging startup In-Med Prognostics secures $2M to go global
Indian AI imaging company In-Med Prognostics has received $2.13 million in investment from Exxora and other angel investors.
WHAT IT DOES
Established in 2018, the company leverages deep learning and machine learning algorithms to generate brain scan analyses to aid the assessment and early detection of neurological disorders, including dementia, Alzheimer’s disease, and Parkinson’s disease.
It currently has three software offerings: NeuroFlo, a neurology workflow platform; NeuroShield, an AI-based app powered by NeuroFlo that provides ethnicity-specific volumetric analysis report of the brain within 20 minutes; and VivoShield Sports, also an AI-powered platform that delivers insights for precision analysis in the area of sports medicine for athlete wellness and optimal performance.
In-Med Prognostics has tie-ups with leading diagnostics providers and hospitals in India, including Aarthi Scans, Scansworld, Gujarat Scans, Nanavati Hospital, and Kauvery Hospital.
Aside from India, it also has offices in Australia and the United States.
WHAT IT’S FOR
In-Med Prognostics will use its new funds to broaden its product portfolio and expand its reach across global markets. Presently, it is establishing its presence in Africa.
“This investment by Exxora pivots us to develop some cutting-edge solutions as part of our innovation funnel in the neurosciences space and deliver in both volume and value markets,” co-founder Rajesh Purushottam said.
Fellow India-based AI imaging firm qure.ai also bagged investments this year, including $40 million in a funding round led by Novo Holdings and HealthQuad in March, and another £3.2 million ($3.9 million) from SBRI Healthcare to demonstrate the use of its qXR chest X-ray interpretation technology to aid lung cancer diagnosis.
Other AI imaging startups across Asia-Pacific also scored funding for expansion this year, including FathomX from Singapore and AIRS Medical from South Korea.