Krayen, a healthtech startup with offices in India and the US, has recently been acquired by 5C Network, a digital diagnostic platform backed by Tata 1MG. With this change, 5C Network will be able to broaden its digital diagnostics product portfolio. Offer patients and healthcare professionals more sophisticated diagnostic options.
A few months ago, 5C Network raised $4.6 million in a Series A funding round that was led by venture capital firm Celesta Capital. In addition to angel investors, the funding round included Unitus Ventures and Axilor Ventures, which had previously invested in the business. The company will use the additional funding to strengthen and grow its diagnostic clientele. Hire more staff, and develop its data science and clinical teams. The healthtech platform launched its fundraising campaign in response to Tata 1mg’s strategic investment of an undisclosed amount in the company in March of this year.
5C Network will use the additional funding to grow and strengthen its diagnostic clientele. As well as to hire more personnel and develop its infrastructure for its clinical and data science teams. The business that 5C Network recently acquired, Krayen, will expand its Prodigi platform. Which already sends radiological results to 2,000 hospitals and diagnostic centres in 300 locations throughout India each year. With this acquisition, it will expand its data science and clinical teams in addition to strengthening its diagnostic clientele.
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“Prodigi, the best AI-powered diagnostic reporting platform in the world, is being built by us. We are also creating the most intelligent algorithms to route every scan to the best qualified online radiologist. Over the upcoming quarters, we anticipate this to scale significantly, “said 5C Network CEO Kalyan Sivasailam. Krayen’s acquisition by 5C Network is a calculated strategic move. Given the growing demand for digital diagnostics in India and elsewhere. Krayen’s technology has expanded the capabilities of 5C Network, positioning it to take the lead in the digital diagnostic market.
