Early stage investment firm Anthill Ventures and Bengaluru-based cancer care provider HealthCare Global (HCG), have shortlisted six startups for their healthtech focused accelerator program, Lumos Health.
The selected startups include AI-enabled radiology diagnosis solution Alixir, pulse diagnosis application AyuRythm, equipment trading platform BiMedis, human cell sampling tool C-Test Medicals, wound and tissue analysis system Kronikare, and non-wearable sleep and breathing baby monitor Raybaby.
The 12 month accelerator program was launched in the late 2018, and has since then, recieved over 120 applications from across 10 countries. Lumos Health will help the selected startups to raise investments, assist them in getting regulatory approvals and provide mentoring to increase the startup’s customer base and help in generating more revenue.
Lumos will also take advirsory equity in the selected companies, depending on the startup’s current funding stage and valuation.
Prasad Vanga, founder and CEO of Anthill Ventures said, “We will help these startups to scale into globally markets as some of them will work on real use-cases, and deploy their products in real client engagements through our tailored market access program.”
The program claims to provide market access in India, Africa, Middle East, and Southeast Asia. The focus sub-sectors of the program include oncology, fertility, genomics, bionics, and research & diagnostics, among other emerging sectors.
Anjali Ajaikumar, program director of Lumos Health and vice president of HCG said, “Under the Lumos Program, startups will enhance their product, have impactful interactions with our 30+ partner companies in both the local and global network and see how their company is making a difference in the quality of health and patient care.”
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Startups selected through this program will work with subject matter experts, mentors, and coaches from both Anthill Ventures and HCG, to collaborate and enhance their solution. Also, they will have the opportunity to raise funding from Anthill Ventures and their associated investor ecosystem.
The six selected startups of the Lumos Health first cohort include:
Australia-based Alixir has built an artificial intelligence (AI) system that can scan digital mammographs to detect breast cancer symptoms. Alixir claims to have provide an instant report with 96% sensitivity and 95% specificity. The company is said to have achieved this accuracy through collection of multiple data sources that is biopsies and diagnoses from surgeons.
India-based AyuRythm has built an application that can provide Naadi Pariksha (pulse diagnosis), with the help of a smartphone camera which integrates pulse detection technology and ayurveda. Based on its pulse readings, the application then uses an AI algorithm to recommend proactive solutions for the underlying causes and treatments of the ailments and stress-related issues.
Ukraine-based BiMedis is an international medical equipment trading platform where medical devices buyers, sellers and service providers from all over the world can come together and communicate and close their deals. Instead of charging charge a sales commission on these deals, the company uses an ad-driven revenue model.
India-based C-Test Medicals designs and manufactures a ‘sampling’ tool which can collects cells from the tissue, without causing any bleeding, or the use of needles, sutures and antibiotics. The tool is capable of collecting cells from third layer of epidermis, which can help in the detection of oral cancer at an early stage. The company claims to benefit hospitals, clinics, dentists, ENTs, nurses, government programs and service providers in rural areas who don’t have access to healthcare facility.
Singapore-based Kronikare offers a mobile application along with a hardware device that uses computer vision, thermal imaging and laser for wound and tissue analysis, detecting complication and preventive care. The company uses machine learning and artificial Intelligence (AI) to understand tissue damage, assess wounds and predict complication against traditional manual inspection and caregivers’ guess work.
US-based Raybaby is a non-wearable sleep and breathing monitor, choosing breathing as one of the most important vital signs to track. It combines radar sensor with artificial intelligence (AI) powered platform to create an intelligent and accurate baby monitor.