Neuranics, a healthcare diagnostics startup, has successfully raised $700K USD funding in a seed round led by Inflection Point Ventures (IPV). The funds will be utilized for technology development and clinical validation, enabling the company to accelerate its mission to revolutionize blood diagnostics.
Neuranics is developing a point-of-care blood analyzer capable of delivering complete blood count (CBC) results in less than 10 minutes using just a finger-prick sample. The device, designed for primary and emergency settings, offers low maintenance and high efficiency, making it a game-changer for the healthcare industry.
Having accurate CBC results available immediately at the point of care, while the physician is still with the patient, allows for better-informed decisions regarding triage, additional testing, and treatment as delays are no longer caused by transport and preparation of clinical samples.This approach benefits not only the patient, who experiences improved outcomes, but also the physician, who can diagnose, triage, and treat with greater confidence. Society also reaps the rewards through reduced healthcare costs and enhanced quality care. Unnecessary, costly, and potentially harmful medications, such as inappropriate antibiotics, can be avoided. At the same time, life-saving treatments for critical conditions like sepsis, severe anemia, and thrombocytopenia, especially in dengue patients, can be initiated promptly, ensuring timely and effective care.
With their compact dry haematology design and efficiency in delivering results directly at the point of care, Neuranics is ideally suited to address this need effectively.
Founded in 2021 by Praveen Kumar (Co-founder & CEO) and Ashutosh Patra (Co-founder & CTO), Neuranics addresses critical gaps in diagnostics, particularly in primary screening. Praveen, an IIT Delhi graduate, brings extensive experience in healthcare technology, having previously worked with the government on projects like Corona Kavach and Aarogya Setu. Ashutosh, an alumnus of the SiB(Previously Stanford India Biodesign) Program at AIIMS, leads product innovation at Neuranics with expertise in optical sensing technologies and mechanical engineering.
Mitesh Shah, Co-founder of IPV, says, "Neuranics is tackling the problem of lengthy and complex blood testing processes with their point-of-care blood analyzer that makes complete blood count diagnosis faster and easier. This significantly improves patient care, especially in urgent cases. IPV believes in the startups innovative technology and envisions a future where the startups bring out more such necessary tools".
Dr Megha Sharma, MD Pathologist and Chief Medical Evangelist at Neuranics says, "Our point-of-care CBC analyzer represents a significant leap forward in diagnostic convenience and accessibility. By utilizing a simple finger-prick capillary blood sample. We have effectively eliminated the need for traditional venipuncture, making blood testing faster, less invasive, and more patient-friendly. This technology empowers healthcare providers to deliver immediate, actionable insights, even in resource-limited settings, ultimately improving patient outcomes especially in Primary health care centres for screening and at emergency setups for triage."
The company has achieved significant milestones, including a patent granted, receiving the CDSCO Test License, Ethical Approval from AIIMS Delhi, and progressing through clinical trials. Neuranics also gained recognition at Yourstory Tech30, Amazon-Sambhav and India-Sweden Innovation Challenge for its potential to decentralize routine diagnostics, offering quicker and more accessible screening for conditions such as anemia, thalassemia, malaria, and leukemia.
Praveen Kumar, Co-founder & CEO of Neuranics, says, "We are re-imagining how we approach diagnostics by bringing instant, accurate blood analysis closer to the patient without compromising on the quality. Our technology empowers clinicians with real-time data, transforming care delivery and elevating patient outcomes.
By leveraging AI on de-identified pathological imaging data generated by our analyzer, we aim to set a new gold standard for national screening programs. This innovative technology will elevate healthcare quality in India and establish the country as a global leader in point of care blood analyser.
We thank IPV for being with us in this journey. Working with IPV has been a streamlined and transformative experience. Their investment and guidance have empowered us to scale faster, innovate further, and bring our vision to life. IPV's efficient processes and industry connections have been instrumental in our journey."
Neuranics operates in the fast-growing diagnostics industry, with the global CBC market projected to reach $50 billion, expanding at a CAGR of 8-10%. The company's focus and expertise in precision robotics, machine vision, and microfluidics positions it as a leader in the next generation of diagnostic technologies. |
