Bengaluru-based breast cancer screening startup NIRAMAI Health Analytix has raised undisclosed amount of seed funding from pi Ventures, an early stage fund focused on investing on disruptive ideas leveraging machine learning, Artificial Intelligence and Internet of Things, and others including Ankur Capital, Axilor Ventures, 500 Startups and Flipkart co-founder Binny Bansal.
NIRAMAI, which stands for Non-Invasive Risk Assessment with Machine Intelligence, has been building a revolutionary non-invasive, non-touch, non-radiation approach to detect breast cancer.
“People go to hospital only when they have a large lump in their breast. By the time they go to the hospital, it is pretty late and tough to save lives. Our solution can detect it five years before the lump starts forming,” Geetha Manjunath, CEO of NIRAMAI, was quoted as saying by The Economic Times.
This investment will help us strengthen our IP portfolio, expand operations and ensure our cancer screening tool is readily available for commercial use, she added.
NIRAMAI solution uses a high resolution thermal sensing device and cloud hosted analytics solution for analysing the thermal images.
The company’s SaaS solution uses big data analytics, artificial intelligence and machine learning for reliable, early and accurate breast cancer screening.
The innovative methods used in the solution have led to multiple US patents. The novel algorithms developed by NIRAMAI have also been peer-reviewed in international scientific conferences.