AI-backed neurological healthcare startup In-Med Prognostics said that it has raised $2.13 million in funding in a round led by Exxora, with participation from prominent angels. The startup said it would use the funds to stabilise and expand its product portfolio and tap global markets.

Founded in 2018, In-Med Prognostics leverages deep learning algorithms and machine learning to provide neuro analysis that aids in the assessment and early detection of neurological disorders such as Dementia, Alzheimer’s and Parkinson’s at affordable prices.

“We are beyond thrilled about putting this investment to good use to strengthen and broaden our product suite and bring accessible AI-based healthcare tools to the emerging world and beyond,” said Dr Latha Poonamallee, co-founder of In-Med Prognostics.

The startup offers AI-powered image processing proprietary software for neurologist decision support and radiologist workflow enhancement. The company claims to be the first in the world to provide ethnicity-specific neuro assessment reports and multi-modal data processing capability to develop integrated digital biomarkers.

“Med-tech has some amazing opportunities and we continue to invest in startups like In-Med Prognostics that are providing innovative solutions in preventive brain health using AI and deep learning,” said Sriram Natarajan, director, Exxora. In India, In-Med Prognostics works with Aarthi Scans, Scansworld, Gujarat Scans, Nanavati hospital, and Kauvery hospital, and aims to expand to Africa.

“We started in India in 2018 with a modest prototype beginning with imaging biomarkers and were able to establish the use case understanding of frugal innovation. This investment by Exxora pivots us to develop some cutting-edge solutions as part of our innovation funnel in the neurosciences space, and deliver in both volume and value markets,” said Rajesh Purushottam, cofounder, In-Med Prognostics.