RedBrick AI, a Health-tech AI platform, on Wednesday announced that it raised $4.6 million in a seed funding round to accelerate the development and adoption of artificial intelligence in clinical settings, through rapid data annotation on medical imagery.
According to the company’s statement, the round was led by Sequoia India and Southeast Asia’s Surge, with participation from Y Combinator and angels.
Medical imagery is an essential source of truth in clinical diagnosis and comprises about 90 percent of all healthcare data AI systems can dramatically shorten the time to diagnosis, improve clinician productivity by triaging high-importance cases, and act as the first line of defense in under-staffed clinical environments.
Researchers and healthcare institutions are increasingly investing in AI solutions to improve diagnostics, treatment, and patient quality of care. The use of AI in healthcare stands to transform patient care by boosting clinician productivity and automating clinical diagnosis.
Last year, the U.S. Food and Drug Administration (FDA) approved 115 AI algorithms for use in medical environments, an 83 percent increase from 2018.
“With the rapid growth of artificial intelligence in clinical settings, researchers need excellent tools to build high-quality datasets and models at scale. Our customers are in the vanguard of this growth, pioneering everything from surgical robots to automated detection of cancers. The new funds will be integral to the growth of our engineering team in India and to expand our suite of products. We’re incredibly excited to be powering the next generation of researchers in building AI for clinical settings,” RedBrick AI CEO and co-founder Shivam Sharma said in a statement.