The venture capital firm Celesta Capital led a $4.6 million Series A investment round for the medical diagnostics platform 5C Network (India) Pvt. Ltd. Existing investors Unitus Ventures and Axilor Ventures also participated.
The company announced in a statement that angel investors Ajay Gupta, Rohit Razdan, and Shiv Tallam also took part in the financing round, as per reported by VCCircle.
5C Network, India’s top healthcare delivery network with a variety of linked diagnostic services and solutions, was founded in 2016 by Kalyan Sivasailam and Syed Ahmed. Prodigy.ai, a cutting-edge, modern digital platform created to link patients, doctors, healthcare providers, and diagnostic centres, is at the hub of the network.
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“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,” said Kalyan Sivasailam, chief executive officer, 5C Network.
In order to provide training to radiologists and radiographers, it also established a learning portal called 5C Academy. Additionally, it will provide accreditation to radiologists who specialise in CT and MRI scans.
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He continued by saying that 5C Network is thinking about using the money from this round to expand its diagnostic clientele, speed up talent acquisition, and create infrastructure for its clinical and data science teams.
Posed for ambitious growth, over the next five years, 5C Network aims to process every third radiology report in India, making accurate, accessible, accelerated, and affordable radiology a reality.
About 5C Network
5C Network today offers Borderless Radiology, their flagship advanced teleradiology services for MRI, CT, PET/CT, and XRAY scans. This service is unparalleled in terms of its reach and scale in India today. It is aimed to bridge the demand-supply gap of radiologists in the country.
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Currently, 5C Network boasts of over 1350 active clients and 400 empanelled radiologists, reporting about 5000 cases per day. 5C Network is present in over 300 cities/towns across India with radiologists spread over 58 cities. With Borderless Radiology, 5C Network has made geographical boundaries redundant.