Mumbai: Endimension Technology, a startup specializing in healthcare AI, has secured INR 6 Crore in a Pre-Series A funding round led by Inflection Point Ventures. Other participants include Sucseed Indovation, SINE IIT Bombay, and individual angel investors. Founded at IIT Bombay, Endimension Technology aims to revolutionize radiology with AI, enabling early and accurate diagnoses worldwide.

The raised capital will be allocated towards advancing AI research and development, expanding the team, and enhancing software capabilities. These strategic investments are intended to fortify Endimension’s market presence, expedite its growth trajectory, and solidify its position as a frontrunner in the industry.

Ivy Chin, Partner, Inflection Point Ventures said, “The Indian radio-diagnosis market, growing at a CAGR of 15%+ over the last decade, has got a lot of focus on equipment & infrastructure. The under-stated need is that of qualified professionals, i.e. radiologists, to manage this burgeoning demand. There has been growth across tier 1, 2 & 3 for equipment but the availability and prohibitive costs of trained radiologists exacerbates the problem of demand outstripping supply situation. Endimension focuses on leveraging AI to facilitate faster assessment and diagnosis, employing generative AI to streamline report generation and reduce the time required by radiologists. IPV is confident that this investment will contribute towards the betterment of the industry”.

The global AI market within medical imaging is poised for substantial growth in the forthcoming years. By 2024, it’s anticipated to reach approximately USD 5.86 billion, with projections soaring to USD 20.40 billion by 2029, boasting a remarkable compound annual growth rate (CAGR) of 28.32% (as per Mordor Intelli). This surge is fueled by escalating demands for precise and early diagnoses, heightened awareness surrounding chronic illnesses necessitating imaging services, and the increasing integration of AI technologies in the healthcare sector. Leveraging this momentum, Endimension has positioned itself as a comprehensive AI platform catering to radiology diagnostics. Noteworthy for its seamless integration, diverse customization features, and adeptness in diagnosing a wide array of conditions accurately, Endimension’s platform stands out, contributing to enhanced patient outcomes. Having processed over 1 million scans to date, the platform is presently operational in 400 hospitals and diagnostic centers across various regions, thereby augmenting their accessibility.