San Francisco-based start-up, CARPL, recently concluded a successful fundraising round, securing $6 million to advance its mission as the “world’s largest radiology AI marketplace.” Founded in 2021 by Dr. Vidur Mahajan, CARPL aims to simplify the adoption of cutting-edge AI tools in radiology for healthcare providers globally.

CARPL serves as a comprehensive one-stop-shop for hospitals, health authorities, and governments seeking the latest innovations in radiology. The platform connects healthcare providers with technology developers, streamlining the process of identifying and implementing AI solutions that can enhance patient outcomes.

The radiology AI marketplace currently boasts over 50 developers offering more than 100 applications. Notably, CARPL has successfully onboarded a dozen healthcare providers, including the Singapore Government, the Clinton Health Access Initiative, and various hospitals in the US, Australia, and Brazil.

The accelerated pace of innovation in AI poses a challenge for healthcare providers in selecting the most suitable tools. CARPL addresses this by providing a platform where developers can showcase their tools, allowing healthcare providers to “try before they buy.” This unique feature enables healthcare professionals to assess the performance of AI tools within their specific patient populations.

In addition to its marketplace function, CARPL supports the deployment of AI tools by offering a universal AI viewer. This viewer allows healthcare providers to access a diverse range of tools seamlessly through the CARPL platform, simplifying the integration of multiple AI applications into their workflows.

The importance of AI in radiology is evident as the global market for AI solutions in the field is projected to reach $20 billion by 2029, representing a compound annual growth rate of over 28%. CARPL’s strategic position in facilitating the adoption of AI technologies positions it as a key player in this rapidly expanding market.

Investors in CARPL, led by Stellaris Venture Partners, foresee significant opportunities in the evolving landscape of radiology AI. Alok Goyal, a partner at Stellaris Venture Partners, emphasizes the vital role AI plays in bridging the growing demand for imaging scans and the limited number of radiologists.

CARPL’s funding model involves charging a fee for platform access and taking a share of revenues when healthcare providers adopt new AI tools. This approach has garnered support from investors, including strategic angel investors from Novo Holdings, Leapfrog PE, Bain & Co, Boston Consulting Group, and UnitedHealth Group.

As AI continues to reshape the healthcare industry, CARPL stands at the forefront, facilitating the seamless integration of innovative radiology AI solutions into clinical workflows, ultimately contributing to improved efficiency, accuracy, and patient care.

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