Synapsica Healthcare has recently announced funding of $4.2 million in Series-A round backed by VC funds IvyCap Ventures and Endiya Partners. The funding round also saw participation from Silicon Valley-based incubator Y Combinator, and other angel investors.
Founded by Meenakshi Singh, Dr Cherian and Kuldeep Singh Chauhan, Synapsica aims to improve the quality of radiology reports while making it easier for doctors to create them. The new capital would be used for overseas growth and to further expand the suite of AI features that help Radiologists and spine specialists create patient reports quickly, or even in real-time at the table side.
Synapsica’s platform - Radiolens, enables radiologists and clinicians to put together reports with illustrations and objective evidence of disease bringing transparency and hence better patient care to the community. Radiolens hosts several Artificial Intelligence based algorithms that assist radiologists to describe the exact location and extent of spine-related pathologies. With the increasing incidence of chronic lower back and neck pain among the aged and working professionals, reports generated on Synapsica’s platform help both patients and clinicians really understand the patient's condition and create a customized treatment plan.
“We are obsessed with radiologist's experience on our platform, and direct our research and tech development to create the best possible environment for clinical diagnosis. This means taking away all mundane tasks - button clicks, measurements, repetitive diagnosis - and giving back time to focus on the patient.” - says Meenakshi, CEO, Synapsica Healthcare.
Synapsica is trusted by 250+ doctors across 500+ hospitals and diagnostic centers and gaining more partners everyday - all on a mission to make Radiology reporting better.
Commenting on the investment, Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors Pvt Ltd, said, “There is a constant need to make quality diagnostic assessment available for all. Synapsica with its AI tools help in creating patient reports quickly. Our investment in the company is aimed at helping them in their expansion and growth.”
"We firmly believe that the time for AI in Healthcare is here. Radiology in particular, with an already existing digital image workflow, will see faster adoption of AI which will add to both the precision in diagnostics as well as improve accessibility on the patient care front. Synapsica's products work seamlessly together, to provide a complete augmented radiology experience with objective and predictive reporting. At Endiya Partners, we are excited to partner in Synapsica's journey to empower radiologists through AI-led reporting, a much-needed intervention in Healthcare." said Dr Ramesh Byrapaneni, Endiya Partners