- Reduces reporting time from 48 hours to 42 minutes with accuracy
- Over 100,000 scans in 3 months for COVID-19 across India
- Largest network of radiologists with 400+ onboard
Bengaluru, December 8th: India’s leading digital radiology platform, 5C Network, has secured pre-series A funding of $1.2 Million from existing investors, Unitus Ventures and Axilor Ventures. With the current round, 5C Network has achieved INR 13 crores in funding to date. 5C Network brings together hospitals and diagnostic centres, leading radiologists and cutting-edge technology to deliver fast and actionable diagnoses to physicians and patients.
Through the use of their platform and Artificial Intelligence (AI) algorithms, 5C reduces the turnaround time for a radiology report from the typical 48 hours to just 42 minutes, while ensuring the highest degree of accuracy. This allows hospitals to significantly reduce their “door-to-needle” time, especially for critical cases, making sure that patients receive life-saving intervention faster.
Kalyan Sivasailam, CEO, 5C Network shares, “Radiology is the most important method of diagnosis for almost all major ailments today, and digital radiology is going to play a huge role in delivering better diagnoses, treatments and outcomes, especially in tier-II and tier-III cities, where there is an acute shortage of trained and experienced radiologists.”
“We plan to utilise the funds to upscale the products and services that help doctors and patients make better decisions. Our platform is already seeing large-scale adoption, and we aim to further scale up our reach and our products with this new infusion of capital. We are excited about our journey ahead, as we gear up to deliver massive value and impact.”
Stressing on the current demand for digital radiology, Kalyan adds, “We have seen about 3,300 scans per day in the past 6 months. 5C’s value proposition of technology and Artificial Intelligence-enabled reporting has gained more prominence since the pandemic, as it empowers radiologists to triage patients depending on the urgency of the case. Our leadership in AI-enabled reporting has given us the highest levels of customer satisfaction (as measured by NPS — Net Promoter Score) amongst all digital healthcare platforms. Radiologists too have realised that there is no limit to their learning and earning on 5C.”
Surya Mantha, Senior Partner, Unitus Ventures highlights, “There is immense potential for smart health-tech solutions to transform the Indian healthcare system. The pandemic has already presented an enormous challenge and opportunity for these solutions to deliver on their promise.”
“5C is experiencing huge demand from untapped markets in India and overseas, and plans to expand rapidly into these geographies. We have always championed 5C’s vision to bridge the urban-rural healthcare accessibility gap in India using digital technology and AI, and we continue to support them as they make rapid progress in this endeavor.”
Facts and figures
Started in 2016 by Kalyan Sivasailam and Syed Ahmed, 5C has partnered with over 600 hospitals and diagnostic centres across 27 states in India, which send over 100,000 cases a month to 5C for diagnosis. Over the next 12 months, 5C aims to expand its client base to over 2,500 hospitals and diagnostic centres all over the country, and build products and services to drive clinical excellence and better diagnosis in radiology. The 5C Network platform also allows seamless and secure sharing of medical images and diagnoses to all stakeholders. Over the last 4 years, 5C Network has grown to become India’s largest and most trusted diagnostic network, delivering over 100,000 diagnoses across India every month. The health-tech startup has saved over 10 crore waiting hours for patients since its inception in 2016, providing the highest quality diagnoses to the remotest parts of the country.
Deploying AI to help patients
5C leverages AI to prioritise patients according to how critical their status is. If a patient is brought to an emergency ward and the doctor requires a radiologist-interpreted report on the patient’s MRI scan, it can be immediately accessed via the 5C Network platform. The patient can then receive timely life-saving medical intervention. The platform also enables the storage, sharing and interpretation of radiology images across regions. This helps hospitals and diagnostic centres to maximise the ROI on their radiology machines by making specialists available 24×7 and augmenting their experience with AI to become faster, more accurate and more consistent. 5C’s platform also makes this information securely accessible to all. During the pandemic, this has greatly helped reduce printing of film and paper and minimise physical contact.
About 5C Network
5C Network is a digital platform that enables the storing, sharing and interpreting of radiology images across India. 5C helps hospitals and diagnostic centres maximise the ROI on their radiology machines by making specialists available 24×7. 5C’s specialists are powered by AI to make them faster, more accurate and more consistent. 5C has reported over 1.5 million scans across India. More about 5C Network: https://www.5cnetwork.com
About Unitus Ventures
Unitus Ventures is the leading venture fund in India that supports early-stage fintech, healthcare, and jobtech startups with India scale and global potential. Launched in 2012, Unitus Ventures is a founding member of Capria Network, the leading global network of emerging market fund managers collaborating to deliver superior returns and scaled impact. Unitus Ventures is based in Bangalore and Seattle. More about: https://staging1.unitus.vc and http://capria.vc/network