24 April 2017, India:
NIRAMAI Health Analytix, a startup that’s building a revolutionary non-invasive, non-touch, non-radiation approach to detect breast cancer has raised seed funding led by pi Ventures with participation from Ankur Capital, Axilor Ventures, 500 Startups and Flipkart co-founder Binny Bansal.
NIRAMAI (Non-Invasive Risk Assessment with Machine Learning) is a pioneer of a new patented technology called Thermalytix that can remove technological, logistical, and cultural barriers that hinder breast cancer screening among women today. The start-up’s solution uses artificial intelligence over thermal images to address the issues of early detection of breast cancer.
Dr. Geetha Manjunath, CEO & Co-founder of NIRAMAI, says, “Mortality rates among breast cancer patients are very high in India. Our solution is portable, low-cost, very safe, privacy-sensitive and can detect cancer at a very early stage making it very suitable for regular preventive health checkup as well as screening camps. This investment will help us strengthen our IP portfolio, expand operations and ensure our cancer screening tool is readily available for commercial use.”
Manish Singhal, Founding Partner, pi Ventures added, “Breast Cancer is a major killer across the world. In India, one out of two women dies after getting diagnosed with breast cancer since the detection happens very late. Early detection is key to saving lives and is enabled very well with the innovative and disruptive AI based solution from NIRAMAI. We are excited to partner with them on their journey to solve this important and worldwide problem.”
Binny Bansal, co-founder of Flipkart said “The innovation from NIRAMAI is solving a key problem in women’s health today. We are happy to partner with this new startup that is socially relevant, innovative and has good market potential.”
NIRAMAI was founded in July 2016 by Dr. Geetha Manjunath who comes with 25 years of research and innovation expertise in areas such as data analytics, machine learning, cloud computing, semantic web and Nidhi Mathur who is a serial intrapreneur with rich experience in business planning, strategy and product management.