AI-based medical diagnostics platform 5C Network (India) Pvt. Ltd has announced that it has secured $4.6 million in a Series A funding round, led by venture capital firm Celesta Capital, with participation from existing investors including Unitus Ventures, Axilor Ventures.
The funding round was also attended by angel investors including Ajay Gupta, Rohit Razdan and Shiv Tallam.
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."
5C Network is considering to utilise funds raised in widen its diagnostic clientele, ramp up talent acquisition and building infrastructure for its data science and clinical teams as well as create more AI-based product offerings.
The medical diagnostics firm secured $1.2 million in a pre-Series A funding round led by existing investors Unitus Ventures and Axilor Ventures in December 2020. The company had said it would deploy the funds to allow doctors and patients make better medical decisions.
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.