NIRAMAI Health Analytix, a start-up known for its 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. The funding details were not disclosed.
The Non Invasive Risk Assessment with Machine Learning (NIRAMAI) 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.
NIRAMAI is on a mission to create a universal cancer screening method that can save lives by detecting breast cancer at an early stage. The overall hardware-software solution is portable and uses big data analytics, artificial intelligence and machine learning for reliable, early and accurate breast cancer screening. Early diagnosis is critical in saving the life of a cancer patient. Their method of screening is based on principles of Thermography that can detect tumors 5 years before mammography or a clinical exam can detect.
The start-up 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. Along with Nidhi Mathur who is a serial intrapreneur the two cofounders have previously worked with companies like Xerox Research Center and Hewlett Packard Labs.
“Mortality rates among breast cancer patients are 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 check-up 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, said Dr. Geetha Manjunath, chief executive officer & co-founder of NIRAMAI.
According to Manish Singhal, founding partner, pi Ventures, 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 in their journey to solve this important and worldwide problem.
“The early detection solution is low cost, zero radiation and non contact, which very effectively addresses the concerns and limitations for larger adoption of screening for women across all segments,” Dr. Ritu Verma, co-founder, Ankur Capital.