In-Med Prognostics raises $2.13M to expand AI based image processing for healthcare

New Delhi: In-Med Prognostics, an AI company with expertise in multi-modal data and image processing has raised $2.13M led by Exxora with participation from prominent angels. The funds will be used to stabilize and expand the product portfolio and tap global markets.

Pune based In-Med Prognostics leverages deep learning algorithms and machine learning to provide time saving accurate Neuro analysis which aids in assessment and early detection of neurological disorders such as Dementia, Alzheimer’s and Parkinson’s at affordable prices. Their ‘Neuroshield’ solution provides a self-explanatory volumetric report within an analysis time of 20 minutes. The company offers AI powered image processing proprietary  software for neurologist decision support and radiologist workflow enhancement. The company is the first in the world to provide ethnicity specific neuro assessment reports and multi-modal data processing capability to develop integrated digital biomarkers.

In-Med India was founded in 2018 and had announced a Rs 50 lakh Grant from BIRAC in 2019. In-Med Inc, the US holding company was formed in 2021. The company has since secured global IP and a new CT Tool has been deployed. The company has also expanded its footprint to Africa.

In-Med Prognostics was founded by Latha Poonamallee, Co-founder and CEO, PhD from Case Western Reserve University, Professor and Fulbright Scholar; Rajesh Purushottam, co-founder, serial entrepreneur, Global Sales Officer and Al Curran, Co-founder, PhD, Stanford University, Tech Entrepreneur and Engineering Researcher.

Dr. Latha Poonamallee, co-founder In-Med Prognostics, said, “We are beyond thrilled about putting this investment to good use and strengthen and broaden our product suite and go further in our mission to bring accessible state of the art AI based healthcare tools to the emerging world and beyond. Many thanks to our incredibly supportive investor. We look forward to continuing to prove you right! Thanks also to our wonderful team and ecosystem partners without which none of this would be possible.”

Sriram Natarajan, Exxora, added, “Med-tech is seeing some amazing opportunities and we continue to invest in start-ups like In-Med Prognostics that are providing innovative solutions in the area of preventive brain health using AI & Deep learning (DL). Our endeavour at Exxora is to support innovators who are able to address unmet needs and create social impact globally.”

“We started in India in 2018 with a modest prototype starting with Imaging biomarkers and were able to establish the use case understanding frugal innovation. This investment by Exxora, pivots us to develop some cutting edge solutions as part of our innovation funnel in the neurosciences space and deliver in both volume and value markets. This investment by a Science based investment firm is a proof of the belief of the company and its values for a long term growth and social impact”, added Rajesh Purushottam, co-founder, In-Med Prognostics.

In India, In-Med Prognostics is already working with Aarthi Scans, Scansworld, Gujarat Scans, Nanavati, Cauvery hospitals. The company is expanding to Africa and is targeting a global multi billion diagnostic and wellness market.