Key Points
- Endimension Technology, a healthcare AI startup incubated at IIT Bombay, has secured Rs 6 Crore in a pre-Series A funding round led by Inflection Point Ventures.
- The funding round also saw contributions from Sucseed Indovation, SINE IIT Bombay, and individual angel investors.
- The capital raised will be utilized to bolster AI research and development, expand the team, and enhance software capabilities.
- Endimension Technology specializes in AI-driven solutions for radiology diagnostics, aiming to improve efficiency and accuracy for radiologists.
- The startup claims to have processed over 1 million scans and is deployed in 400 hospitals and diagnostic centers across multiple regions.
Endimension Technology, a healthcare AI startup incubated at IIT Bombay, has successfully secured Rs 6 Crore in a pre-Series A funding round, spearheaded by Inflection Point Ventures, an angel investment firm based in Gurugram. The funding round also witnessed contributions from Sucseed Indovation, SINE IIT Bombay, and individual angel investors.
The capital infusion is earmarked to bolster the company’s AI research and development initiatives, expand its team, and enhance its software capabilities. These strategic investments are aimed at solidifying Endimension’s market presence, accelerating its growth trajectory, and positioning it as a frontrunner in the industry.
Endimension Technology was founded by Bharadwaj Kss, Karthik Kannegondla, and Apparao Mlv. Bharadwaj Kss, serving as the CEO, holds degrees from IIT Madras and IIT Bombay, boasting a decade of experience in Artificial Intelligence and Machine Learning. Apparao Mlv, the COO, brings in 10 years of operational and marketing expertise with a bachelor’s degree from ICT Mumbai. Karthik Kannegondla, the Chief Technology Officer, leverages his 10-year software development experience, alongside his qualifications from IIT Madras.
Specialization in AI-driven Radiology Solutions
Endimension Technology specializes in AI-driven solutions for radiology diagnostics. Its comprehensive AI platform enhances the efficiency and accuracy of radiologists by optimizing diagnostic workflows and improving detection rates. The startup claims to have processed over 1 million scans to date, with its technology deployed in 400 hospitals and diagnostic centers across multiple regions.
Investor Outlook
Ivy Chin, Partner at Inflection Point Ventures, expressed optimism about the investment, stating, “Endimension focuses on leveraging AI to facilitate faster assessment and diagnosis, employing generative AI to streamline report generation and reduce the time required by radiologists.”
Industry Growth
The global market for AI in medical imaging is witnessing robust growth, with estimates projecting substantial expansion in the coming years. By 2024, the market size is anticipated to reach $5.86 billion, surging to $20.40 billion by 2029, driven by the increasing demand for early and accurate diagnosis, rising awareness about chronic diseases, and the growing adoption of AI technologies in healthcare.