Mumbai Angels leads seed round in health tech startup Medprime Technologies

Thane-based health tech startup Medprime Technologies today announced it has raised an undisclosed amount in a seed funding round led by Mumbai Angels Network and Social Alpha.

Other investors, including SINE IIT Bombay, RiSo Capital, Lavni Ventures, and Keiretsu Forum also participated in the round. 

Medprime Technologies focuses on providing digital solutions to the microscopy segment of medical diagnostics. According to a blog post by MA Network, Medprime Technologies will use the funding to scale up its Cilika product line and make it more profitable. Additionally, the funding will also be utilized to develop the AI component for MICALYS, it added.

Speaking on the development, Greeshma Unnikrishnan, COO - MedPrime Technologies said:

"The ongoing pandemic and the subsequent boom of digital technology adoption and the need for automation in the microscopy diagnostics has become glaringly obvious. MedPrime has been committed to developing best-in-class digital solutions that will bolster the microscopy space in medical diagnostics."

"We are delighted to be backed by eminent investors in our journey. Their belief in us and our products will help us revolutionize the field of pathology, she said.

Founded in 2014 by Samrat, Greeshma Unnikrishnan, Binil Jacob, and Mahesh Kumar Rathor, MedPrime Technologies addresses the lack of availability of quality pathology services across the country through digitization and automation of microscopy and enabling telepathology through their products.

The company’s vision is to enable complete digitization of microscopy, thereby facilitating telepathology, remote consulting, and automation of diagnostic tests using AI-based image analysis algorithms.

Health-tech has become one of the fastest-growing industries with the pandemic underscoring the significance of digital technologies in order to strengthen the infrastructure and manage the strain inflicted on the sector, Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network said.

"We believe that MedPrime Technologies is on the right path to redefining microscopy-based diagnostics in the country and this funding is a testimony to the stellar work MedPrime has been doing so far and will help them augment their products and expand the business," she adds. 

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