San Diego-based startup LifeVoxel raises $ 5 million seed funding for its AI diagnostic visualization platform – TechCrunch
Startup based in San Diego VieVoxel raised $ 5 million in a funding round to boost the data intelligence of its AI diagnostic visualization platform for faster, more accurate prognosis.
The platform, dubbed Prescient, is used for diagnostics, workflow management and triage, taking the stress out of managing the software and hardware technology of physicians and hospitals – and allowing them to focus on patient care.
The software as a service (SaaS) platform is used by healthcare facilities for remote diagnosis in various medical fields including radiology, cardiology and orthopedics. The platform stores diagnostic images, allowing physicians to analyze them, on demand, from any device, including cell phones. It also includes features that allow inclusion of annotations and diagnostic reports.
“We plan to spend the funds obtained during this cycle to develop our deep learning AI models and machine learning algorithms to provide insight into the data so that we can identify similarities, anomalies and predictive diagnostics to improve diagnostic efficiency and accuracy ”, LifeVoxel Founder and Chief Architect Kovey Kovalan says TechCrunch.
“In short, with our continued growth, we can help healthcare professionals understand what is wrong with patients more quickly so they can begin the healing work sooner,” said Kovalan.
The cycle has attracted a range of investors, including medical and radiology specialists and high net worth individuals interested in medical technology.
Kovalan, who was born and raised in Malaysia, studied computer science at Ohio State University and, in the end, majored in artificial intelligence. Research and interest then led him to apply artificial intelligence using GPUs to come up with a medical imaging classification, which resulted in the development of the platform, which his company says “Enables latency-free interactivity of medical images on the Internet.”
The platform is designed to save around 50% of technology costs for hospitals using the software, and allows them to scale up or down as needed by institutions. It also allows physicians to access patients and their data from anywhere in the world, helping deliver faster patient care.
He hopes to use the platform to change the current landscape of medical imaging where images are hosted on-premise, complicating collaboration and exploiting it for artificial intelligence. The startup hopes to use the technologies to improve diagnostic outcomes using smart visualization.
“For rural populations currently lacking in specialists, the platform’s ability to transform any device into an X-ray station provides access to the same network of specialist physicians for the review of imaging studies as urban areas. Recently, such techniques have been deployed during the pandemic to provide one-of-a-kind interactive 3D VR telepresence between remote supervisors thousands of miles away and surgeons in operating rooms. “
The startup’s technology is timely as more healthcare facilities expand their remote and telemedicine capabilities – which have been largely fueled by the COVID pandemic. This is in addition to the increased adoption of AI-based technologies for better patient outcomes as more hospitals move away from conventional cloud-based systems.
“Medical imaging and radiology need dynamic solutions to fill the gaps in conventional systems,” said LifeVoxel co-founder, president and CEO Sekhar Puli.
“With this round of funding, we will be able to accelerate not only our vision of being the de facto platform for medical imaging applications around the world, but also to make significant advancements in imaging. telehealth and advanced technology-based AI solutions for the future of healthcare. . “