Envisionit Deep AI, a South Africa-based healthtech startup that uses AI to bridge the demand for diagnostic imaging, raised $1.65 million in funding.
The investment was from New GX Ventures SA, a joint venture between New GX Capital, RMB Ventures, and GIIG Africa. This was after the startup emerged as the Southern Africa regional winner at the African Startup Awards.
“We have this exciting goal to combine revolutionary technology like artificial intelligence with radiology and we want to transform the way radiologists look, interpret imaging and make diagnosis,” said Terence Naidu, who doubles up as the company’s CEO.
The startup has a suite of products that it plans to scale beyond South Africa, including the Radify AI platform, which they claim ensures speedy, accurate, quality, and affordable medical imaging diagnosis, factors that are critical in early diagnosis and treatment of disease.
Envisionit Deep AI, started by building models for interpreting chest X-rays, with the capacity to detect 25 different pathologies, including tuberculosis, breast cancer, and pneumonia, the number-one killer of children under five in Africa.
Its on-site product can be integrated with devices such as X-ray machines to deliver diagnosis and treatment at the point of care. They also offer teleradiology for patients that require radiology reports.
Company: Envisionit Deep AI (Pty) Ltd.
Funding Month: February 2023
Lead Investors: New GX Ventures SA
Company Website: https://www.edai.africa/
Software Category: Medical Imaging Diagnosis
About the Company: Established in 2019, Envisionit Deep AI is an innovative medical technology company using artificial intelligence to transform medical imaging diagnosis. The company has developed, called RADIFY, which is capable of reviewing x-rays, mammograms, and ultrasounds – prioritizing patient cases according to the probability of illness. Envisionit Deep AI is guided by its vision to positively impact healthcare by using revolutionary technology like artificial intelligence to democratize access to diagnostic healthcare. Envisionit Deep AI has recently rolled out a computer-assisted training model (an edtech tool) for medical practitioners that are keen on gaining radiology skills.