Healthtech Startup Endimension Technology Secures Pre-Series A Funding for AI-driven Healthcare Solutions

This funding round will enable the startup to develop its AI technology further, expand its team, and enhance its software capabilities.

Endimension Technology, a Mumbai-based healthcare AI startup, has raised INR 6 Cr in a Pre-Series A funding round. 

The investment was led by Inflection Point Ventures, with participation from SucSeed Indovation, SINE IIT Bombay, and individual angel investors.

Having received this financial boost, the startup hopes to be able to advance its AI technology, grow its team, and improve the functionality of its software applications.

Advancing Radiology with AI Technology

Endimension Technology, incubated at IIT Bombay, aims to harness artificial intelligence (AI) technology in radiology, ensuring early and precise patient diagnosis globally. 

Founded in 2017 by Bharadwaj Kss, Kurien Zacharia, and Venkata Apparao Madiraju, the startup provides accurate and early diagnosis of diseases from radiology scans. The startup's AI platform enhances radiologist efficiency and accuracy by streamlining diagnostic processes and improving detection rates.

Strategic Allocation of Funds

Per the startup, the funds raised in the Pre-Series A round will fuel AI research and development, team expansion, and software enhancement. These strategic investments aim to bolster their market position, accelerate growth, and establish Endimension as an industry leader.

Sharing insights, Ivy Chin, partner at Inflection Point Ventures, said, " "The Indian radio-diagnosis market, growing at a CAGR of 15%+ over the last decade, has seen significant attention directed towards equipment and infrastructure. However, the critical need for qualified professionals, particularly radiologists, to manage this growing demand remains understated. Despite growth across tiers 1, 2, and 3 in equipment, the scarcity and high costs associated with trained radiologists exacerbate the challenge of demand surpassing supply.”

Chin added that Endimension's use of AI to accelerate assessment and diagnosis, employing generative AI to streamline report generation and ease the workload on radiologists, is poised to tackle this critical issue.

Furthermore, the global market for AI in medical imaging is expected to grow significantly in the coming years. In 2024, the market size is estimated to be around $5.86 billion and is projected to reach $20.40 billion by 2029, with a compound annual growth rate (CAGR) of 28.32%, respectively.

Healthtech Funding Witnessing Upward Trend

Keeping the healthtech funding trend buzzing, days back, Medulance, a healthtech platform providing emergency healthcare services, secured $3 million in Series A funding, with Alkemi Growth Capital leading the investment. 

The funding round saw participation from prominent investors such as Dexter Capital, Aman Gupta, and Namita Thapar, reflecting investors’ confidence in Medulance's core offerings. 

The primary objective behind Medulance's funding acquisition is to fortify its presence across India and enhance its emergency management technology. 

Similarly, ClaimBuddy, a health insurance claim assistance platform, closed its Series A funding round with a substantial investment of $5 million. The funding aims to enhance technological capabilities and expand its offerings for hospitals and patients.

Also, Butterfly Learnings, specializing in pediatric behavioral and developmental health, secured approximately $3.8 million in its Series A round last week. This investment will facilitate expanding its technology-enabled therapy programs for neurodiverse children.  

Additionally, IIT Hyderabad's Center for Healthcare Entrepreneurship received funding of $9.6 million to accelerate the development and adoption of breakthrough healthcare solutions.