Venture Catalysts Leads Seed Funding In Aikenist

Venture Catalysts, an integrated incubator and accelerator platform, led the investment in a seed funding round for Aikenist, a company working in the radiology and medical imaging sector with generative artificial intelligence-based smart workflow solutions. 

The funding round saw participation from several notable investors, including MARL Fund, Quant Fund, Nandak Growth Catalysts, and angel investors, bringing valuable expertise and resources to support Aikenist's growth trajectory. Miloni Ghatalia, Senior Associate Investments, Venture Catalysts, played a key role in facilitating this investment.

This investment by Venture Catalysts and other participating investors is set to propel Aikenist to new heights, enabling the company to further its mission of revolutionising medical imaging and radiology, as per the press release. The funds will be used to enhance the AI capabilities of the QuickSuite platform, expand the company's market presence, and accelerate research and development efforts.

Apoorva Ranjan Sharma, Co-Founder, Managing Director, Venture Catalysts, commented on the investment, “Aikenist represents the future of medical imaging and radiology. Their innovative approach to leveraging AI for improving healthcare delivery aligns perfectly with the global shift towards more efficient and accessible healthcare solutions. We believe their platform has the potential to transform the USD 186 billion radiology market in India and the US. This investment underscores our commitment to supporting groundbreaking technologies that have the power to improve lives and revolutionise industries.”

Founded by entrepreneur Ashwin Amarapur, Aikenist said its mission is to make radiology and medical imaging accessible to everyone, particularly for better care delivery of critical illnesses and conditions such as cancer, neurological disorders, and stroke. The company's software as a service (SaaS) business model, with annual pricing or pay-per-use options, provides flexibility for healthcare providers of all sizes, from small clinics to large hospital networks.

Aikenist said its flagship product, QuickSuite, is a fast-growing AI tech platform that optimises end-to-end radiology processes, including scan acquisition, analysis, and reporting/sharing of scan data. The solution comprises QuickRad; QuickScan, a patented solution for faster magnetic resonance imaging (MRI) scanning; and QuickDiag, which includes specialised suites for disease detection and quantification. Together, these components significantly reduce scanning and reporting times, improving patient care and operational efficiency. Aikenist's solution is already deployed in over 300 centres in India and abroad and is rapidly growing, handling about 4 crore images per month.

Ashwin Amarapur, Founder, Aikenist, commented, “Aikenist is providing the fastest medical imaging healthcare delivery. Our mission is to make medical imaging faster, affordable, and effective. Our patented solution reduces MR scanning time by 70 per cent and radiology reporting time by 80%, resulting in the fastest imaging to intervention time for patients with stroke, trauma, and other critical conditions. We are democratising medical imaging so that people can have affordable access to quality diagnostics like MRI. We are grateful to all the investors who are supporting us in this journey."