The company plans to use the funds to expand its presence in India, strengthening its reach in the major Indian cities and extending to tier 2 markets. It also intends to pursue Food and Drug Administration (FDA) certification, opening access to the US and allied markets, it said in a statement on Wednesday.
The Bengaluru-based firm is also exploring opportunities in Africa and Southeast Asia, based on distributor interest and will also support research and development (R&D) for a caregiver-focused app, aimed at empowering families of patients with brain disorders.
Currently, BrainSightAI, winner of the Top Innovator category at the ET Startup Awards 2024, collaborates with over 40 hospitals across India, primarily in neurosurgery and radiology departments, with a focus on brain tumour cases. The company is also expanding its offerings to address neurological and psychiatric disorders, it said.
Founded by Laina Emmanuel, an engineer by training, and Rimjhim Agrawal, a PhD in machine learning (ML) for psychiatry, BrainSightAI combines artificial intelligence (AI) and neuroscience to enable precision in neurological and psychiatric investigations, resulting in faster and more accurate patient outcomes.
“We are very excited by the potential of connectomics to advance personalised brain care for patients and I believe in the long run, for everybody,” said Emmanuel, who serves as the chief executive officer (CEO) of the startup.
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The startup’s product suite includes Voxelbox, which provides clinicians with access to a functional magnetic resonance imaging (fMRI) processing engine and ML models and Snowdrop, a patient care app that enables compliance with treatment schedules and building patient profiles.“BrainSightAI’s mission to democratise access to personalised brain care is inspiring, and the technology they’ve built is a fundamental innovation in brain physiology. The connectomics platform, VoxelBox, has the potential to transform the way brain disorders are diagnosed and treated for all humanity,” said Priyank Garg, managing partner, IAN Alpha Fund.
In 2020, BrainSightAI received government grants from the Biotechnology Industry Research Assistance Council (BIRAC).
As the company focuses on commercialisation, BrainSightAI is confident it can reach a $100 million annual recurring revenue run rate by scaling across India and expanding globally, Emmanuel told ET in an earlier interview.
