Key Takeaways
- Bioscan Research secured $1 million in seed funding led by Unicorn India Ventures for its AI-driven brain injury detection technology.
- The company aims to expand its market presence, enhance existing products, and develop new intellectual property.
- Its flagship product, CEREBO, aims to quickly identify intracranial injuries non-invasively, addressing a crucial need in trauma care.
Funding for Growth in MedTech Innovation
Bioscan Research, a MedTech startup founded in 2017 by Anupam Lavania and Shilpa Malik, has successfully raised $1 million in a seed funding round led by Unicorn India Ventures. The investment aims to accelerate the growth of the company’s AI-powered technology for detecting brain injuries.
The funding will enable Bioscan to expand its market reach, achieve additional regulatory approvals, enhance product offerings, and develop new intellectual property. The startup’s flagship product, CEREBO, utilizes machine learning and Near Infrared Spectroscopy (NIRS) to identify intracranial injuries in trauma patients, even when symptoms may not yet show. This technology intends to facilitate faster clinical assessments during the critical “golden period” after a brain injury.
Over the past year, Bioscan has achieved fivefold growth and is targeting a threefold increase in the upcoming year as it seeks expansion within India and internationally. The newly acquired capital will also help in advancing product capabilities and exploring additional regulatory pathways for broader commercialization.
The co-founders commented on the funding, stating, “We harness light to reveal what the eyes can’t see, giving doctors clarity, patients hope, and technology a heart.” They emphasized the significant number of individuals suffering from traumatic brain injuries, noting that 50-90% of moderate cases often go undetected. They believe that with this funding, they can enhance their product offerings and overcome the limitations of traditional detection tools, thus providing urgent care both in India and globally.
Anil Joshi, Managing Partner at Unicorn India Ventures, praised Bioscan’s progress over the last year and highlighted the pressing need for advanced diagnostic technology in the healthcare sector, particularly in addressing head injuries and brain trauma. He stated, “The healthcare industry still has a big gap to address in countries like India…Bioscan Research is making it possible to detect intracranial haemorrhage non-invasively.”
As Bioscan Research gears up for further commercialization and product development, this investment positions the company to capitalize on the growing market demand for innovative healthcare solutions that address critical conditions efficiently.
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