August 9, 2022

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Indian well being AI startup Endimension snaps up seed funding to develop new radiology options

Endimension, a well being AI startup from India, has raised 23 million rupees (over $300,000) in seed funding from one of many nation’s largest angel traders, Inflection Point Ventures.

WHAT IT DOES

The startup was incubated on the Indian Institute of Technology Bombay in 2018. It develops AI algorithms to mechanically detect abnormalities and illnesses from medical scans. Its AI platform referred to as ENDIM-AI-CXR is a medical assist instrument that spots COVID-19 patterns from chest radiographs, decreasing situations of misdiagnoses and growing radiologists’ effectivity.

Endimension, part of the NVIDIA AI Inception Program and the Microsoft for Startups Community, says its expertise is now getting used at round 100 hospitals and radiology labs throughout India.

WHY IT MATTERS

According to a press launch, the seed funding will likely be used to make use of new expertise for its upcoming product growth. The new funds can even be deployed for analysis and boosting gross sales. 

The World Health Organization recognises that occupational burnout intensifies the rising scarcity of healthcare staff globally. As there are fewer radiologists towards the quantity of medical photographs being generated in the course of the pandemic, Endimension says it intends to bridge that demand-supply hole by way of its AI expertise. 

MARKET SNAPSHOT

Endimension is coming into a market the place its fellow Indian startup Qure.ai has already made its splash. It lately secured a partnership with Fujifilm Corporation to equip the model’s sensible x-ray system with its AI software program referred to as qXR. The identical AI diagnostic instrument was additionally deployed by AstraZeneca Malaysia in some main care clinics for the early detection of lung most cancers. Moreover, Qure.ai obtained a US FDA 510(k) clearance for qER-Quant, a mind CT quantification instrument, that’s used to quickly assess the severity of a affected person’s mind damage.

According to analysis agency MarketsandMarkets, the worldwide marketplace for AI in medical diagnostics is predicted to succeed in $3.9 billion in value by 2025 from $505 million final 12 months, rising at a 50.2% CAGR.

ON THE RECORD

There is a global shortage of radiologists leading to radiologist burnout and patient misdiagnosis. The number of medical images is increasing exponentially whereas radiologists are only growing linearly. We wanted to bridge this demand-supply gap using our Radiology AI Platform. Our AI platform improves radiologist efficiency and reduces patient misdiagnosis,” Endimension Founder and CEO Bharadwaj Kss mentioned.



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