Matrix India

Pi Ventures, Binny Bansal, others invest over $6 Mn in healthtech startup Niramai

Matrix India

Healthtech startup Niramai has raised about $6-7 million in a fresh round from Pi Ventures, Axilor, Ankur Capital and Flipkart co-founder Binny Bansal. All had infused an undisclosed seed fund in the Bengaluru-based startup in April, last year.

The development is yet to be confirmed by the startup and investors. Entrackr‘s query regarding the same did not elicit an immediate response.

Niramai would be the third investment for the former Flipkart Group CEO, who exited the firm recently. He participated in funding rounds in GreyOrange and Purple Style Labs and Pernia’s Pop Up Shop joint venture.

Niramai was floated in 2016 by Geetha Manjunath and Nidhi Mathur. The startup’s low-cost non-invasive risk assessment with machine learning uses big data analytics and artificial intelligence over thermal images for the early detection of breast cancer.

The firm’s patent technology Thermalytix helps remove the technological, logistical and cost barriers for breast cancer screening among women. Its cancer screening tool SMILE has been tested on more than 400 patients data from 2 hospitals and one diagnostic center.

It provides full stack hardware-software solution for breast cancer screening in three modes. Sturdy, compact screening device with cloud processing for specialty hospitals. Low-cost, handheld device with real-time cloud-based diagnostics for independent medical practitioners and a portable solution for large-scale screenings

Niramai has been deployed in diagnostic centres and hospitals in Karnataka, Tamil Nadu, and Telangana. It is also set to expand with three breast cancer screening centres in Hyderabad, Mysore, and Mumbai.

The startup was a part of Axilor’s accelerator programme for the Summer 2017 batch.
On the revenue front, the firm earned Rs 43 lakh in the financial year ending on March 31, 2018.

Besides Niramai, MedGenome, Mapmygenome, Xcelris, SciGenom, and few others are working in similar space.

The development was reported by ET.

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