Sequoia India's Surge backs health tech startup RedBrick AI with $4.6 million in funding

Healthtech startup RedBrick AI has raised $4.6 million in a funding round led by Sequoia India and Southeast Asia’s Surge as it plans to expand the market for its medical image annotation solution.

Artificial intelligence has become ubiquitous in clinical diagnostics. But researchers need much of their initial time to prepare data for training AI systems. The learning process also requires hundreds of annotated medical images and thousands of hours of annotation by clinicians. The Delaware-based SaaS startup, which has an Indian subsidiary in Pune, solves this problem with its automated and semi-automated annotation tools.

RedBrick AI co-founder and CEO Shivam Sharma said the startup helps make annotations up to 60% faster using its configurable workflow system that works with medical images such as CT scans, X-rays, MRIs and ultrasounds.

“We see ourselves building the foundational layer of artificial intelligence in healthcare. Going forward, we want to help teams with everything from data preparation to FDA approval of algorithms,” Sharma said in an interview with TechCrunch.

Founded in 2021 by former SpaceX Hyperloop engineers Sharma and Derek Lukacs (who serves as CTO), RedBrick AI offers specialized annotation tools that can be accessed through a web browser and integrated into customers’ existing data storage system , such as AWS, Google Cloud Platform and Azure. Semi-automated tools are also available for annotating complex 3D medical images.

Redbrick AI

Image Credits:

RedBrick AI additionally provides APIs that machine learning engineers can integrate with their cloud solutions and clinical data repositories, including hospital enterprise PACS servers.

“Clinicians just need to log into their browser and the workflow aspect is automated,” Sharma said.

Once properly annotated, the images can be used for faster and more detailed diagnosis. Annotated images can also be used by surgical robots and to automate cancer detection.

RedBrick AI has a seven-member team that is primarily based in India, although the startup focuses primarily on the US and Europe for marketing its tools. The startup also sees 99% of the competition coming from open source tools, followed by in-house ones developed by companies to meet their specific requirements.

RedBrick AI’s early customer base includes German biotech startup Orbem, Canadian cancer and disease screening platform Prenuvo, Boston-based nonprofit hospital and physician network Mass General Brigham, and Maharashtra-based radiology AI platform Deeptek.

Y Combinator and angel investors also participated in the all-equity seed round. Prior to this round, the startup was listed among Y Combinator’s Winter 2022 cohort which was dominated by 32 Indian startups.

Sharma said RedBrick AI plans to use the fund to expand beyond its current customer base and reach out to enterprises. It also plans to hire new engineers to expand its suite of specialized tools.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *