- 5C Network's acquisition of Krayen marks a new milestone in the company's growth: combining the power of advanced analytics and AI in digital diagnostic
- With this acquisition, 5C Network aims to strengthen/double its digital scanning services targeting a billion scans a year by 2025
After the strategic investment by Tata 1mg and recent fundraise last year, digital diagnostic platform 5C Network acquires Krayen, Inc, a startup focused on healthcare applications and AI models to detect a variety of ailments in X-Rays and CT scans. With core expertise in statistics, analytics, AI/ML, data engineering and platform engineering, Krayen has a team size of 15 located out of India and California. The acquisition of Krayen Inc is a strategic move by 5C Network to expand its offerings in the field of digital diagnostics. By combining 5C Network's expertise in digital diagnostics with Krayen's AI and ML technologies, the newly merged company will be able to provide even more advanced and accurate diagnostic solutions to healthcare providers and patients.
Krayen was founded in 2020 by Bargava Subramanian and Kirthiraj Yuvaraj in California, U.S.. The founders have deep expertise in building, operationalizing, and scaling AI and data-driven products. Currently, Krayen serves 15 clients globally. They use computer vision and NLP to help hospitals and healthcare providers deliver superior patient outcomes. Their vertically-focused Generative AI helps hospitals provide personalized treatment plans. By analyzing patient data, such as medical history, genetics, and lifestyle factors, they recommend treatment plans tailored to each patient.
“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, CEO of 5C Network. He further added, “ To make diagnostics accurate, accessible and affordable, our new suite of AI products will be a massive leap in becoming the world’s first truly AI-driven diagnostics platform.”
Commenting on the merger, Bargava Subramanian, co-founder & 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.”
Medical diagnostics is a USD 11Bn market in India growing at a rate of 16% y-o-y. While pathology has been centralized and scaled, radiology is still lagging behind when about 85% of moderate to severe illness needs radiology intervention. 5C Network has been making strides to shift the whole diagnostic experience for patients - from booking a test to obtaining accurate and timely reports digitally, with an average TAT of 39 minutes and an accuracy of over 99.3%, across India.
5C Network is able to do this through a collaborative network of radiologists powered by their Prodigi platform - an intelligent platform that can integrate multiple AIs seamlessly. While AI companies must focus for years on one ailment, prodigi gives them a platform to transact on through deep integrations. Prodigi.ai has enabled over 2000 hospitals and diagnostics centers in 300 cities to deliver accurate, fast, actionable diagnosis and reports to patients and referring physicians.
About 5C Network
5C Network is building digital infrastructure for delivering better healthcare diagnostics in India. The company provides marketplace-like access for diagnostic establishments, radiologists and patient aggregation and management providers. Through its cutting-edge Prodigi (www.prodigi.ai) platform, 5C delivers 1.5 radiological reports annually to 2000 hospitals and diagnostic centers across 300 cities in India. The company has successfully raised Series A capital from marquee global and strategic investors.
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