[Funding alert] Synapsica Healthcare raises $4.2M from IvyCap Ventures and Endiya Partners for global expansion
Synapsica Healthcare is creating India's first integrated platform to use AI for automation of both clinical and back-office tasks in radiology.
Delhi-based Synapsica Healthcare has recently raised funding of $4.2 million in Series A round backed by VC funds IvyCap Ventures and Endiya Partners. The funding round also saw participation from Silicon Valley-based incubator Y Combinator, and other angel investors.
Founded by Meenakshi Singh, Dr Cherian and Kuldeep Singh Chauhan, Synapsica aims to improve the quality of radiology reports while making it easier for doctors to create them.
The company said the new capital would be used for overseas growth and to further expand the suite of AI features that help radiologists and spine specialists create patient reports quickly, or even in real-time at the table side.
“We are obsessed with radiologists' experience on our platform, and direct our research and tech development to create the best possible environment for clinical diagnosis. This means taking away all mundane tasks - button clicks, measurements, repetitive diagnosis - and giving back time to focus on the patient,” said Meenakshi, CEO, Synapsica Healthcare.
Synapsica’s platform - Radiolens, claims to enable radiologists and clinicians to put together reports with illustrations and objective evidence of disease bringing transparency and hence better patient care to the community. Radiolens hosts several artificial intelligence-based algorithms that assist radiologists to describe the exact location and extent of spine-related pathologies.
Synapsica claims to be trusted by 250+ doctors across 500+ hospitals and diagnostic centers and gaining more partners everyday - all on a mission to make Radiology reporting better.
“Synapsica with its AI tools help in creating patient reports quickly. Our investment in the company is aimed at helping them in their expansion and growth,” added Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors Pvt Ltd.
According to Dr Ramesh Byrapaneni from Endiya Partners, "We firmly believe that the time for AI in healthcare is here. Radiology in particular, with an already existing digital image workflow, will see faster adoption of AI which will add to both the precision in diagnostics as well as improve accessibility on the patient care front. Synapsica's products work seamlessly together, to provide a complete augmented radiology experience with objective and predictive reporting.”