Pune-based In-Med Prognostics, an AI-based health tech startup, has raised $2.13 million in a new funding round led by Exxora, along with the participation from angel investors.
According to the startup, the raised capital will be used towards expanding its product portfolio and tap global markets.
In-Med Prognostics, founded in 2018 by Latha Poonamallee and Rajesh Purushottam, offers AI-powered image processing proprietary software for neurologist decision support and radiologist workflow enhancement.
The startup uses machine learning to provide analysis which aids in the assessment and early detection of neurological disorders such as dementia, Alzheimer’s and Parkinson’s at affordable prices.
Additionally, It provides ethnicity-specific assessment reports and multi-modal data processing capability to develop integrated digital biomarkers.
“Medtech is seeing some opportunities and we continue to invest in startups like In-Med Prognostics that are providing innovative solutions in the area of preventive brain health using AI & deep learning,” said Sriram Natarajan, Director of Exxora.
In-Med received a Rs 50 lakh grant from Biotechnology Industry Research Assistance Council (BIRAC) in 2019. Its holding company InMed Inc, is based out of the US and was formed in 2021.
The startup said it has been collaborating with other prominent diagnostic care service organizations in India, like Aarthi Scans, Scansworld, Gujarat Scans, Nanavati, and Cauvery Hospitals, and plans to expand to Africa as well.