Digital Diagnostics Start-up 5C Network, which is backed by Tata 1mg, raises $4.6 Million.

5C Network (India) Pvt. Ltd. is a medical diagnostics platform. Ltd. on Tuesday announced that it has closed a Series A investment round of about $4.6 million led by venture capital company Celesta Capital and featuring participation from previous investors Unitus Ventures, and Axilor Ventures.

The 5C Network was founded in 2016 by Sivasailam and Syed Ahmed to help people in India save, create, and analyse radiology pictures and to help hospitals in India make better use of their radiology equipment.

There were additional angel investors involved, such as Ajay Gupta, Rohit Razdan, and Shiv Tallam.

Following a strategic investment by Tata 1mg in March of this year for an unknown sum, the healthtech platform has begun fundraising.

The company’s goal with the new capital is to expand the breadth and depth of its diagnostic customer base, as well as to strengthen its data science and clinical teams’ skills and infrastructure.

In March, the Bengaluru-based business received an undisclosed sum from a strategic investor, Tata 1mg.


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In December 2020, current investors Unitus Ventures and Axilor Ventures led a $1.2 million pre-Series A fundraising round for the medical diagnostics company. The corporation promised to use the money to improve the quality of medical care both providers and patients get.

According to 5C Network, the company’s flagship product, Prodogi, which is powered by AI, now provides radiology reports to hospitals in more than 300 Indian locations. It claims to have cut down the time it takes to get test results from diagnostic procedures to roughly 39 minutes.

In addition, it has introduced a teaching platform called 5C Academy for radiologists and radiologic technologists. Radiologic technologists who focus on CT and MRI scans will also be able to earn credentials.

The ‘Digital Diagnostics as a Service’ offered by 5C Network is revolutionary.

As early investors in the platform, we saw rapid and steady expansion accompanied by favourable unit economics.

Praxis Global Alliance expects the Indian medical diagnostics industry to expand by 14% to $20 Bn by 2026 from $10 Bn in 2021.

Indian firms are struggling due to the financial winter, which has also hampered IPO prospects.

Epharmacy PharmEasy is apparently seeking INR 750 Cr in convertible notes after cancelling its IPO.

Bertelsmann India Investments and General Catalyst led Orange Health’s $25 Mn Series B fundraising round this year. 

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