Bengaluru-based Predible Health has raised an undisclosed amount in Series A round from Unitus Seed Fund. The fresh capital will be used to scale up its cancer AI-enabled platform as well as invests in regulatory approvals for its existing products.
Incorporated in 2016 by three Madras IITians — Suthirth Vaidya, Abhijith Chunduru and Deepak Mohan, Predible offers cancer diagnosis through AI-powered clinical applications, which helps radiologists to interpret images with superior accuracy and faster speed.
Since its inception, the platform claims to have processed over 2 million images and plans to target 500 million images by December 2020.
The company has two flagship programmes including Predible liver and Predible lung.
Predible liver assists surgeons with precise planning for liver transplant and tumour resections, through instant analysis and 3D visualisation of liver lesions and hepatic structures. While Predible lung helps in the interpretation of lung nodules from CT images and enables quicker detection and improved assessment of malignancy.
The startup is completely built on the cloud where the solution can be easily accessible by hospitals across India with just an Internet connection.
Currently, it has partnered with many hospitals include Tata Memorial Hospital (Mumbai), Mahajan Imaging (Delhi) and Narayana Health (Bengaluru) amongst others.
In diagnostics and research segment, there are other startups such as Mapmygenome, Xcelris, SciGenom, Ganit Labs Bio-IT center and Xcode Life sciences which are offering their contributions.
In the past few years, the healthcare sector has also attracted the interest of investors.
Last year, Bengaluru-based OncoStem also raised $6 million from Sequoia Capital.
Other competitor, Invictus Oncology had raised undisclosed amount from Tata Sons in Series A round of funding in 2016. After the deal, the Tata sons acquired a minor stake in the company.
As per reports by World Health Organisation (WHO), the number of deaths from cancer worldwide is increasing. The organisation has projected the deaths to continue and the number will reach to over 13 million by 2030.
The funding news was first reported by ET