Indian radio-diagnostics startup, 5C Network raises funding
5C Network raises funds from Unitus Ventures, Axilor and CIIE to improve its presence all over India and provide easy access to radiology ecosystem.
Bengaluru-based 5C Network, which is India’s first ever radio-diagnostics network, has raised an undisclosed amount of funds from Unitus Ventures (formerly known as Unitus Seed Fund), Axilor and Centre for Innovation Incubation and Entrepreneurship (CIIE), the technology business incubator of IIM Ahmedabad. 5C Network is a health-tech startup whose main objective is to make radiology based diagnostics more accessible, reasonable and precise in results through technology.
The company is planning to use the funds to improve its presence all over India and reinforce its technology team so that they can continue to build superlative experiences for doctors, hospitals, diagnostic centers, radiologists, and technologists.
5C Network’s plan for the next few years is to expand its presence over 1,000 hospitals, 200 radiologists and incorporate its complete ecosystem in a mobile ecosystem.
Kalyan Sivasailam, who is the CEO of 5C Network, said that his company is excited with its association with the ideal group of investors, including Unitus Ventures, Axilor, and CIIE who look at their partnership as a remarkable opportunity.
5C Network Association
Founded in 2016 by Kalyan Sivasailam and Syed Ahmed, as of now, 5C Network manages over 950 cases per day using its online portal that brings together the expert radiologists from all over the country.
It enables hospitals and diagnostic centers to upload scan reports straight to the cloud platform where automated data extraction and analysis is conducted by 5C Network’s proprietary algorithm. Then it produces curated information with pre-filled reports, which can be accessed by the professionals. 5C Network works through its online portal that brings together specialist radiologists from across the country.
According to Milind Shah, venture partner at Unitus Ventures, the ratio of radiologist-to-population in India is 1/100,000, which is very low. That means it takes a long time to analyze and generate reports on X-rays and scans.
He further praised 5C Network saying that it is 24/7 radiology service platform that generates quality reports within an hour.
This association will fundamentally improve access to quality healthcare for millions of patients all over the country while also generating strong business propositions.
Syed Ahmed, co-founder, and Director at 5C Network said that no matter what the location is, 5C Network provides every hospital or diagnostic center easy access to a top-notch radiology team. According to what Syed shared, demand for 5C Network services has been showing strong growth.
It is said that that CIIE has been providing catalytic capital and profound support to start-ups in the healthcare sector for more than ten years now.
Radiology is now a crucial diagnostic tool for several diseases and it has an important role in monitoring treatment and envisaging the results. The enhanced image clarity and tissue differentiation in a number of conditions have dramatically increased the variety of diagnostic information and in several cases the demonstration of pathology without the need for invasive tissue sampling. Public acknowledgement of the clinical role of radiology is very important and it is very much depending on its interaction with the patients.
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