The freshly infused capital will be used towards scaling up MedPrime’s Cilika product line and make it more profitable along with developing the AI component for MICALYS
Bengaluru, August 3rd, 2021: Social Alpha announces investment in healthtech startup Medprime Technologies that focusses on providing digital solutions to the microscopy segment of medical diagnostics. While the funding amount remains undisclosed as of now, MedPrime Technologies will be using the capital to scale up its Cilika product line and make it more profitable. In addition, the funds will also be utilized to develop the AI component for MICALYS. Mumbai Angels, SINE IIT Bombay, RiSo Capital, Lavni Ventures, and Keiretsu Forum also participated in the round led by Social Alpha.
Greeshma Unnikrishnan, COO, MedPrime Technologies said, “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. We are delighted to be backed by eminent investors in our journey. Their belief in us and our products will help us revolutionize the field of pathology. 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 utilizing these funds to enhance our product offering and scale the business.”
Manoj Kumar, Founder and CEO, Social Alpha, added “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.”
Co-founded by Samrat, Greeshma Unnikrishnan, Binil Jacob, and Mahesh Kumar Rathor, a team of four Biomedical Engineering Postgraduates from IIT Bombay, MedPrime Technologies addresses the lack of availability of quality pathology services across the country through digitization and automation of microscopy and enabling tele-pathology through their products. The company’s vision is to enable complete digitization of microscopy, thereby facilitating telepathology, remote consulting, and automation of diagnostic tests using AI-based image analysis algorithms.
About Social Alpha:
Social Alpha is a multistage innovation curation and venture development platform for science and technology start-ups that address the most critical social, economic and environmental challenges through the power of entrepreneurship and market-creating innovations. Since its inception in 2016, Social Alpha has supported more 150 start-ups including 40+ seed investments. For more information, please visit www.socialalpha.org