Online healthcare firm Tata 1mg has made strategic investment in digital diagnostic platform 5C Network for an undisclosed amount.
The round also saw participation from investors including
Vikram Vuppala (Founder and CEO at Nephroplus), Om Manchanda (Managing Director at Lal Pathlabs) and Viren Prasad Shetty, (COO of Narayana Health), among others.
“Through our proprietary AI-powered reporting platform, 5C has the ability to report even complex radiology cases in less than 60 minutes and have helped deliver over 3.5 million diagnoses to patients in 27 states," said Kalyan Sivasailam, CEO and Co-Founder of 5C Network.
"We are delighted to partner with the Tata 1mg team and some of India’s leading healthcare angels, who vibe with our vision. The opportunity for scale and impact is massive and we couldn’t have found better partners to work with us on this," he added.
Co-founded by Kalyan Sivasailam and Syed Ahmed in 2016, 5C Network enables storing, sharing and interpreting of radiology images across India.
It helps hospitals and diagnostic centres to maximise the return on investment (ROI) on their radiology machines by making specialists available.
Prashant Tandon, Co-Founder and CEO of Tata 1mg, said that the vision of 1mg strongly resonates with 5C Network which is to improve healthcare outcomes using technology.
Founded in 2011 by Tandon, Gaurav Agarwal and Vikas Chauhan, Tata 1mg provides services such as e-pharmacy, e-consultation, among others.
It had raised a pre-Series A funding of $1.2 million (around Rs 10 crore) from Unitus Ventures and Axilor Ventures in 2020.
Last year in June, Tata Digital, a 100% subsidiary of Tata Group acquired a majority stake in 1mg.
