In-Med Prognostics raises $2.13 M to expand AI-based image processing for healthcare
The funds will be used to stabilise and expand the product portfolio and tap global markets
In-Med Prognostics, an AI company with expertise in multi-modal data and image processing has raised $2.13 million led by Exxora with participation from prominent angels. The funds will be used to stabilise and expand the product portfolio and tap global markets.
In-Med Prognostics leverages deep learning algorithms and machine learning to provide time-saving accurate Neuro analysis which aids in the assessment and early detection of neurological disorders such as Dementia, Alzheimer’s and Parkinson’s at affordable prices. Their ‘Neuroshield’ solution provides a self-explanatory volumetric report within an analysis time of 20 minutes. The company offers AI-powered image processing proprietary software for neurologist decision support and radiologist workflow enhancement. The company is the first in the world to provide ethnicity-specific neuro assessment reports and multi-modal data processing capability to develop integrated digital biomarkers.
In-Med Prognostics was founded by Latha Poonamallee, Co-founder and CEO, from Case Western Reserve University, Professor and Fulbright Scholar; Rajesh Purushottam, co-founder, serial entrepreneur, Global Sales Officer and Al Curran, Co-founder, Stanford University, Tech Entrepreneur and Engineering Researcher.
Dr Latha Poonamallee, co-founder In-Med Prognostics, said, “We are beyond thrilled about putting this investment to good use and strengthening and broadening our product suite and going further in our mission to bring accessible state of the art AI based healthcare tools to the emerging world and beyond. Many thanks to our incredibly supportive investor. We look forward to continuing to prove you right! Thanks also to our wonderful team and ecosystem partners without which none of this would be possible.”
Sriram Natarajan, Exxora, added, “Med-tech is seeing some amazing opportunities and we continue to invest in start-ups like In-Med Prognostics that are providing innovative solutions in the area of preventive brain health using AI & Deep learning (DL). Our endeavour at Exxora is to support innovators who can address unmet needs and create social impact globally.”
“We started in India in 2018 with a modest prototype starting with Imaging biomarkers and were able to establish the use case understanding of frugal innovation. 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. This investment by a Science based investment firm is proof of the belief of the company and its values for long-term growth and social impact," added Rajesh Purushottam, co-founder, In-Med Prognostics.
In India, In-Med Prognostics is already working with Aarthi Scans, Scansworld, Gujarat Scans, Nanavati, Cauvery hospitals. The company is expanding to Africa and is targeting a global multi-billion diagnostic and wellness market.