Online medical diagnostics platform 5C Network, situated in Bengaluru, India, raised US$4.6 million in Series A funding.
In addition to previous investors Unitus Ventures and Axilor Ventures, angel investors Ajay Gupta (Emeritus Partner at McKinsey & Co.), Rohit Razdan, and Shiv Tallam also participated in the round, which was led by Celesta Capital.
The company plans to utilise the money to increase the number of diagnostic establishment clients and radiologists on its installed base, as well as to hire more people and build out its data science and clinical teams.
Founded in 2016 by Sivasailam and Syed Ahmed, 5C Network allows users to store, generate, and interpret radiology images across India, and allows hospitals to generate higher returns on their radiology infrastructure by making radiologists available.
Commenting on the latest funding Kalyan Sivasailam, Chief Executive Officer, 5C Network said, “We are building an artificial intelligence-powered diagnostic reporting platform, Prodigi, and developing algorithms to route every scan to available radiologists online. We expect this to scale significantly over the coming quarters.”