Artificial intelligence based health tech startup, NIRAMAI Health Analytix has raised $6 mn in Series A funding led by Dream Incubator, a Japanese VC firm. The funding also saw participation from BEENEXT and other investors like Binny Bansal, Co-founder, Flipkart, pi Ventures, Axilor Ventures and Ankur Capital.
The funding from Dream Incubator will be used by the NIRAMI for scaling its operations in India, hiring top talent and getting additional regulatory approvals for international expansion. Set up in 2016, Nirami created its revolutionary breast health screening technology, Thermalytix, for early stage breast cancer detection which received positive user feedback from women of all age groups.
Speaking about the development, Eto Munehiko, Managing Director, Dream Incubator Advisory and Investment India, said, “We are excited about partnering with Niramai that is building a truly deep-tech solution out of India. We also believe in the potential of their technology to solve global health problems at scale. The disruptive AI-based technology is key to early detection of disease and saving lives especially where there is a shortage of skilled medical professionals and dense breast ratio is high. Dream Incubator would support Niramai’s international expansion including Japan.”
Co-founded by serial entrepreneur Dr Geetha Manjunath and Nidhi Mathur, the duo combined their diverse expertise to set up the startup to bridge the gap in healthcare delivery systems by providing an AI tools that is accurate, affordable and accessible to all. “We are thankful for the continued support and mentorship provided by our seed investors and are excited to join hands with our new investors to propel us to the next level of growth,” Manjunath, CEO and CTO of NIRAMAI said, commenting on the development.
Manish Singhal, Founding Partner, pi Ventures added, “We believe that NIRAMAI’s team and technology will create a significant difference in early detection of breast cancer and are happy to continue backing them in their journey.”
In 2018, the startup witnessed immense progress by showing clinical validation with multiple trials published in an international forum and partnered with hospitals and diagnostic centres across nine cities in India
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Akshaya Asokan works as a Technology Journalist at Analytics India Magazine. She has previously worked with IDG Media and The New Indian Express. When not writing, she can be seen either reading or staring at a flower.