Healthtech AI startup Endimension Technology raises Rs 6Cr led by Inflection Point Ventures

Endimension Technology, an IIT Bombay-incubated healthcare AI startup, has raised Rs 6 Crore in a pre-Series A funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm.

The round also saw participation from Sucseed Indovation, SINE IIT Bombay and individual angel investors. 

What is the purpose of fundraising?

The startup plans to use the raised capital to 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.

The startup aims to harness AI technology in radiology, ensuring early and precise diagnosis for patients globally.

Who are the founders?

Bharadwaj Kss, Karthik Kannegondla, and Apparao Mlv founded Endimension Technology. 

Bharadwaj Kss, Founder and CEO, holds a bachelor’s from IIT Madras and a master’s from IIT Bombay. He has 10 years of experience in Artificial Intelligence and Machine Learning. Apparao Mlv, co-founder and COO, has 10 years of operational and marketing experience.

He holds a bachelor’s in technology from ICT Mumbai. Karthik Kannegondla is the Chief Technology Officer and brings 10 years of software development experience along with his B.Tech and M.Tech from IIT Madras.

Specializing in AI-driven solutions for radiology diagnostics

Endimension Technology specializes in AI-driven solutions for radiology diagnostics. The startup's end-to-end AI platform enhances radiologist efficiency and accuracy by streamlining diagnostic processes and improving detection rates.

The startup claims to have processed over 1 million scans to date and is currently deployed in 400 hospitals and diagnostic centres across multiple regions.

What did investors say about Endimension Technology?

Ivy Chin, Partner, Inflection Point Ventures, said, “The Indian radio-diagnosis market, growing at a CAGR of 15%+ over the last decade, has got a lot of focus on equipment & infrastructure. The understated need is that of qualified professionals, i.e. radiologists, to manage this burgeoning demand. There has been growth across tier 1, 2 & 3 for equipment but the availability and prohibitive costs of trained radiologists exacerbates the problem of demand outstripping supply situation."

"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," Chin said.

Industry growth

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% (Ref: Mordor Intelli).

The growth is driven by the increasing demand for early and accurate diagnosis, the rising awareness about chronic diseases requiring imaging services, and the growing adoption of AI technologies in healthcare.