Bengaluru, 16th March 2022: In a strategic deal, 5C Network, India’s leading digital diagnostic platform has raised a strategic investment from Tata 1mg, India’s leading online pharmacy. Vikram Vuppala, founder, and CEO at Nephroplus. Dr. Om Manchanda, Managing Director, Lal Pathlabs, Viren Prasad Shetty, COO, Narayana Health, leading angel investors in healthcare, also participated in this round.
5C Network will continue to innovate and deliver a superior experience to patients, client-partners, and radiologists
Digital diagnostics has gained immense prominence because of its ability to democratize diagnostic service across the nook and corner of the country. Started in 2016 by Kalyan Sivasailam and Syed Ahmed, 5C reported over 1.5 million scans last year from diagnostic centres in 334 cities across India. With this partnership, 5C Network will continue to innovate and deliver a superior experience to patients, client-partners, and radiologists.
“What impressed us the most was 5C’s reach across India and focus on systematic service delivery that has benefited millions of patients across India. We are delighted to partner with them and support them in their vision to improve healthcare outcomes using technology, which very closely resonates with our own values and raison-d’etre” says Prashant Tandon, co-founder, and CEO of 1mg.
Kalyan Sivasailam, CEO, and co-founder, 5C Network said, “Building India’s digital diagnostic infrastructure, 5C Network has found the perfect partner in 1mg to make this vision a reality. Through our proprietary AI-powered reporting platform, 5C has the ability to report even complex radiology cases in less than 60 minutes and have helped deliver over 3.5 million diagnoses to patients in 27 states. We are delighted to partner with the Tata 1mg team and some of India’s leading healthcare angels, who vibe with our vision. The opportunity for scale and impact is massive and we couldn’t have found better partners to work with us on this”.
This round comes on the heels of a hot oversubscribed Series A raise by the Bangalore-based startup.
“We saw tremendous interest from the investor community, but we wanted partners who saw the larger opportunity as we did” adds Kalyan.
“In the middle of the fundraise, when Tata 1mg showed their desire to partner, it just made complete sense because we are aligned at so many levels. With their backing, we can look at even larger markets and opportunities”.
Technology is a huge driver in healthcare, particularly in the radiology space. The advent of cloud, AI, machine learning, improved imaging technologies and a whole host of associated areas of information technology and standards, are ramping up the acceptance and demand for diagnostic imaging. Through 5C Network, patients receive timely and accurate diagnosis while client-partners realize better operational and financial outcomes and can differentiate themselves in a crowded market.
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 3.5 million scans across India. More about 5C Network>
About Unitus Ventures
Unitus Ventures is the leading venture fund in India that supports early-stage edtech, jobtech SME-tech and fintech start-ups 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 at: https://unitus.vc and http://capria.vc/network