Online medical diagnostics platform 5C Network has recently raised $ 4.6 million in Series A financing led by deep tech venture capital firm, Celesta Capital, with existing investors Unitus Ventures and Axilor Ventures co-participating in the round, along with angel investors including Ajay Gupta (Emeritus Partner at McKinsey & Co.), Rohit Razdan and Shiv Tallam, the startup said in a statement.

Medical diagnostics is a $ 11 billion market in India growing at a rate of 16% year on year. 5C 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, the statement said.

“In the evolution of digital diagnostics in healthcare, 5C Network is among the pioneers,” said Kalyan Sivasailam, CEO of 5C Network. "With a comprehensive and seamless test-booking to clinical delivery experience, we believe we will change the way diagnostics is experienced by every stakeholder in the healthcare ecosystem.”

This raise comes on the heels of the strategic investment by Tata 1mg, in 5C Network. “The India healthcare system needs digitization and point of care diagnostic devices that contribute to clinical networks to manage cost, turnaround time, and clinical quality,” said Sudhir Rao, Managing Partner at Celesta Capital. “The 5C Network has hyper-locally connected CT, MRI and X-Ray machines that manage the workflow for a patient, clinical networks and hospitals, which can now depend on AI and ML to enhance the clinical efficacy for Pathologists and Radiologists.”

Surya Mantha, Managing Partner, Unitus Ventures said “5C Network’s ‘Digital Diagnostics as a Service’ has been a game-changer. With advanced AI products, a robust network of radiologists and clients, delivering timely diagnostics services at scale is now a reality.