Endimension Technology Secures Funding to Bolster AI-powered Radiology Solutions
Endimension Technology, a healthcare artificial intelligence (AI) company launched at the Indian Institute of Technology Bombay (IIT Bombay), has successfully secured Rs 6 Crore in a pre-Series A funding round. This round was led by Inflection Point Ventures, an angel investment firm headquartered in Gurugram.
Funds to Fuel Growth and Enhance Technology
The capital raised will be strategically directed towards propelling Endimension Technology’s growth trajectory. The funds will be used to fuel research and development (R&D) in AI, expand the company’s team, and refine their software. These investments aim to solidify Endimension’s position in the market, accelerate their growth, and position them as a leading force within the industry.
Revolutionizing Radiology with AI
Endimension Technology is dedicated to harnessing the power of AI to revolutionize the field of radiology. Their core mission is to leverage this technology to deliver faster and more precise diagnoses for patients worldwide.
Founders with Deep Expertise
The company was founded by a team with a wealth of experience in AI, machine learning, and technology. Bharadwaj Kss, who holds a bachelor’s degree from IIT Madras and a master’s degree from IIT Bombay, spearheads the company as the Founder and CEO. He brings 10 years of experience in the field of AI and machine learning. Apparao Mlv, the co-founder and COO, contributes 10 years of experience in operations and marketing, along with a bachelor’s degree in technology from ICT Mumbai. Karthik Kannegondla, the Chief Technology Officer, holds a B.Tech and M.Tech from IIT Madras and boasts 10 years of experience in software development.
AI Solutions for Radiology Diagnostics
Endimension Technology specializes in crafting AI-powered solutions specifically designed for radiology diagnostics. Their comprehensive AI platform is designed to enhance the efficiency and accuracy of radiologists. The platform streamlines diagnostic processes and improves detection rates, ultimately leading to better patient care.
Significant Market Presence
Endimension Technology has already established a strong presence in the market. They claim to have processed over 1 million scans and their solutions are currently deployed in 400 hospitals and diagnostic centers across various regions.
Investor Confidence in Endimension’s Approach
Investors have expressed strong confidence in Endimension Technology’s approach. Ivy Chin, Partner at Inflection Point Ventures, highlighted the growing demand for qualified radiologists in the Indian market, stating that the focus on equipment and infrastructure has overshadowed this crucial need. Endimension’s AI-powered solutions address this gap by facilitating faster and more streamlined diagnoses.
Thriving AI in Medical Imaging Market
The global market for AI in medical imaging is anticipated to experience significant growth in the coming years. According to Mordor Intelligence, the market size is estimated to be around $5.86 billion in 2024 and is projected to reach a staggering $20.40 billion by 2029, reflecting a compound annual growth rate (CAGR) of 28.32%. This growth is fueled by the increasing demand for early and accurate diagnoses, growing awareness of chronic diseases requiring imaging services, and the expanding adoption of AI technologies within the healthcare sector.