Tata 1MG-backed 5C Network acquires AI healthtech startup Krayen

With this acquisition, 5C Network aims to double its digital scanning services targeting a billion scans a year by 2025, the company said.

In October 2022, 5C Network raised $4.6 million in Series A financing led by deep tech venture capital firm, Celesta Capital, with existing investors Unitus Ventures and Axilor Ventures co-participating in the round, along with angel investors including Ajay Gupta (emeritus partner at McKinsey & Co.), Rohit Razdan and Shiv Tallam.

Medical diagnostics is a $11-billion market in India growing at a rate of 16% year-on-year. 5C has been attempting to shift the whole diagnostic experience for patients—from booking a test to obtaining accurate and timely reports digitally—with an average turnaround time of 39 minutes and an accuracy of over 99.3%, across India, the statement said.

Krayen was founded in 2020 by Bargava Subramanian and Kirthiraj Yuvaraj in California. Currently, Krayen serves 15 clients globally, and it uses computer vision and natural language processing to help hospitals and healthcare providers deliver superior patient outcomes.

The startup’s vertically-focused generative AI helps hospitals provide personalised treatment plans. By analysing patient data, such as medical history, genetics and lifestyle factors, the platform recommends treatment plans tailored to each patient.

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“We are excited to build on Krayen’s expertise in AI, ML, data and platform engineering. We are in a quest to build an intelligent and robust platform that can serve a billion scans a year, and Krayen’s ability to process massive amounts of data and bring out valuable insights will advance 5C’s efforts to make this a reality,” Kalyan Sivasailam, chief executive officer of 5C Network, said.Bargava Subramanian, cofounder and CEO of Krayen said 5C Network is building the most important digital resources in India today.

“As a team, we have faced the challenge and impact of delayed, incorrect and inactionable diagnosis, and we believe that our deep expertise in AI, ML, deep learning and data engineering is an essential piece of the puzzle when solving for better diagnostics. We resonate with 5C’s vision and mission, and the team at Krayen is more motivated than ever to drive towards this goal,” he said.