EnvisionIt Deep AI Secures $1.65M Investment for Healthcare Innovation
February 23, 2023
Envisionit Deep AI, a South African health tech startup, is making waves with its innovative use of artificial intelligence (AI) to revolutionise diagnostic imaging in the healthcare sector. Recently, the company secured a significant investment of $1.65 million from New GX Ventures SA, propelling it into its next phase of growth.
Founded in 2019 by Dr. Jaishree Naidoo, Terence Naidu, and Andrei Migatchev, Envisionit Deep AI is on a mission to address critical shortages in healthcare across Africa and emerging markets. Dr. Naidoo, drawing from her experience as a radiologist, recognised the potential of AI to transform diagnostic imaging, leading to the inception of the startup.
Their flagship product, Radify AI, is gaining recognition for its ability to enhance the speed, accuracy, and affordability of medical imaging diagnosis. This is particularly crucial in the early detection and treatment of diseases like tuberculosis, breast cancer, and even COVID-19 pneumonia.
The recent funding injection from New GX Ventures SA, alongside support from the GIIG Africa Fund, underscores the growing demand for innovative solutions in the healthcare space. Dr. Naidoo expressed the significance of this investment, highlighting the immense demand for healthcare services across Africa, especially in the realm of medical diagnostics.
Envisionit Deep AI's vision extends beyond South Africa. The company aims to democratise access to diagnostic imaging globally, addressing the acute shortage of radiologists, particularly in sub-Saharan Africa. With ratios as staggering as 1 radiologist to over 300,000 people in some regions, the need for scalable solutions is undeniable.
One of the standout features of Envisionit Deep AI's approach is its hybrid solution, designed to cater to diverse healthcare settings. Whether in well-equipped urban facilities or resource-constrained rural clinics, Radify AI can be seamlessly integrated, delivering diagnosis and treatment at the point of care.
During the height of the COVID-19 pandemic, Envisionit Deep AI showcased its agility by introducing a product capable of rapidly detecting COVID pneumonia from chest X-rays. This innovation played a pivotal role in streamlining patient care, particularly in areas with limited radiologist availability.
Looking ahead, the startup is focused on expanding its reach beyond South Africa. Seeking approval from regulatory bodies like the US Food and Drug Administration and the European Medical Agency, Envisionit Deep AI is poised to make a global impact.
Moreover, the company's commitment to continuous improvement is evident in its rollout of a computer-assisted training model for medical practitioners. By empowering healthcare professionals with the necessary skills, Envisionit Deep AI aims to foster a more resilient and capable healthcare workforce.
In essence, Envisionit Deep AI represents a beacon of hope in the quest to democratize healthcare access and alleviate burdens on overstretched healthcare systems. Through the power of AI, the startup is reshaping the landscape of diagnostic imaging, ultimately saving lives and improving patient outcomes. As Dr. Naidoo aptly puts it, "With demand for healthcare services only set to increase, now is the time for decision-makers to look to how technology can help them address the needs of today and better prepare for those of tomorrow."