3.August.21 – Maharastra-based MedPrime Technologies, announced that it raised an undisclosed amount in a seed funding round. The round was led by Mumbai Angels Network and Social Alpha. 

The funding round was participated by Lavni Ventures, Keiretsu Forum, SINE IIT Bombay and RiSo Capital.MedPrime Technologies stated that it will utilise the raised capital to expand its Cilika product line and turn it profitable. In addition, the fund will be also utilized to develop artificial intelligence components for MICALYS. 

Words from the investors – 

According to Manoj Kumar, Founder and CEO, Social Alpha, “At Social Alpha, we are excited about the future of diagnostic medicine, particularly in the field of digital pathology. Next-generation diagnostic tools would include the use of digital and AI-ML tools to create access to high-quality services and help pathologists with an efficient decision support workflow.”

“MedPrime’s innovation is a great leap forward in this direction and will extend the value of digital disruption that is already making waves in the diagnostic pathology space.”

Nandini Mansinghka, Co-founder and CEO, Mumbai Angels Network stated, “Healthtech has become one of the fastest-growing industries with the pandemic underscoring the significance of digital technologies in order to strengthen the infrastructure and manage the strain inflicted on the sector.”

“We believe that MedPrime Technologies is on the right path to redefining microscopy-based diagnostics in the country and this funding is a testimony to the stellar work MedPrime has been doing so far and will help them augment their products and expand the business.”

Greeshma Unnikrishnan, COO, MedPrime Technologies added to statements –  

“The ongoing pandemic and the subsequent boom of digital technology adoption and the need for automation in the microscopy diagnostics has become glaringly obvious. MedPrime has been committed to developing best-in-class digital solutions that will bolster the microscopy space in medical diagnostics.”

“With the freshly infused capital, we can enhance our devices, resulting in greater accuracy, and simultaneously reduce the turn-around-time of microscopy-based tests by making a pathologist’s expertise and insights available at any lab in the country, irrespective of its geographical location. We look forward to utilising these funds to enhance our product offering and scale the business,” Greeshma added.

About MedPrime Technologies – 

MedPrime Technologies was initiated by Greeshma Unnikrishnan, Binil Jacob, Samrat and Mahesh Kumar Rathor. It is a team of biomedical engineers, IIT Bombay graduates. The startup focuses on the availability of quality pathology services in India. 

MedPrime said that its vision is to complete microscopy digitisation, facilitating telepathology, automation of diagnostic tests and remote consulting via AI-based image analysis algorithms.

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