Med prime Technologies, a leading innovator in medical devices and diagnostic healthcare solutions, has successfully closed its Pre-series A funding round with an investment from Ashish Kacholia, Co-founder of Hungama Digital and one of India’s top 10 investors.

Figure 1. Med prime Secures Pre-Series A Funding to Boost Growth and Advance AI in Healthcare

The funding will drive Med prime’s growth, particularly in establishing an international market for its flagship product, CILIKA. It will also accelerate the development and launch of advanced AI modules for the MICALYS platform in India. Additionally, the investment will enhance Med prime’s manufacturing capabilities, increasing efficiency and production capacity to meet the rising global demand. Figure 1 shows Med prime Secures Pre-Series A Funding to Boost Growth and Advance AI in Healthcare.

Med prime has made significant strides in digital microscopy, with its products being adopted by premier medical and research institutions across India, including AIIMS, Maulana Azad Medical College, Grant Medical College, Banaras Hindu University, IIT Delhi, IIT Madras, Dr. Lal Path Labs, Apollo Diagnostics, and Dr. Rajendra Prasad Central Agricultural University. These partnerships highlight Med prime’s dedication to delivering state-of-the-art diagnostic technologies.

The company’s AI-driven MICALYS platform continues to set new benchmarks in healthcare innovation. Upcoming AI modules are expected to enhance medical diagnostics further, aligning with Med prime’s mission to integrate technology and medicine for better patient outcomes. “The future of healthcare lies in the synergy between technology and medicine. Med prime’s innovative approach and commitment to improving lives make this partnership a promising step toward advancing medical diagnostics,” said Ashish Kacholia.

In addition to its focus on AI innovations, Med prime is upgrading its manufacturing infrastructure to improve efficiency and scale production, enabling global expansion and better meeting the needs of healthcare providers.

Founded in 2014 by four biomedical engineering postgraduates from IIT Bombay, Med prime has grown with the support of prestigious Indian and international organizations. The company is backed by USAID-supported SAMRIDH (managed by IPE Global) and has received grants like BIG and SBIRI from BIRAC. Medprime also benefits from partnerships with government agencies such as MeitY, industry associations like NASSCOM, and academic institutions including IIT Bombay. It is supported by incubators such as SINE and Venture Centre, as well as organizations like Social Alpha. Its growth trajectory has also attracted investments from venture capital firms such as Lavni Ventures, Riso Capital, Mumbai Angels, and Keiretsu Forum.

Source: BioSpectrum

Cite this article:

Priyadharshini S (2024), “Med prime Technologies Raises Pre-Series A Funding to Accelerate Growth and Drive AI Innovations in Healthcare”,AnaTechmaz, pp. 286