Niramai Health Analytix, an India-based AI startup, announced that it has closed a $6 million Series A round of funding. The money is expected to go toward improving the company’s operations in India, acquiring international regulatory approvals and bringing in new employees.
At the center of Niramai’s business is Thermalytix, the company’s noninvasive, radiation-free breast cancer screening solution that uses AI to interpret thermal images.
“We are thankful to the continued support and mentorship provided by our seed investors and are excited to join hands with our new investors to propel us to next level of growth,” Geetha Manjunath, PhD, CEO and CTO of Niramai, said in a prepared statement.
Dream Incubator, a Japanese venture capital firm, led this round of funding. BEENEXT, pi Ventures, Ankur Capital, Axilor Ventures and Binny Bansal all also contributed.
“We are excited about partnering with Niramai that is building a truly deep-tech solution out of India,” Eto Munehiko, managing director of Dream Incubator Advisory and Investment India, said in the same statement. “We also believe in the potential of their technology to solve global health problems at scale. The disruptive AI based technology is key to early detection of disease and saving lives especially where there is a shortage of skilled medical professionals and dense breast ratio is high.”