5C Network, India's First Teleradiology Startup, Secures Seed Funding Three Years After Inception

VCBeat (WeChat Official Account: vcbeat) has learned that on January 21, 5C Network, India’s first tech startup to provide radiology diagnostics via the internet, raised a seed funding round from Unitus Ventures, Axilor, and CIIE (Centre for Innovation Incubation and Entrepreneurship). The specific amount was not disclosed. 5C Network is a health-tech startup dedicated to making radiology diagnostics more accessible, affordable, and accurate through technology.

This funding will be used to enhance 5C Network’s operations across India and strengthen its technical team, continuing to deliver world-class experiences for doctors, radiologists, technicians, hospitals, and diagnostic centers.

5C Network, founded by Kalyan Sivasailam and Syed Ahmed in 2016, brings together specialist radiologists from across India through its online portal. Over the next two years, 5C Network plans to cover more than 1,000 hospitals on its platform and engage over 200 radiologists. Currently, 5C Network has partnered with 190 hospitals and has 97 radiologists on its platform.

The 5C Network enables hospitals and diagnostic centers to directly upload scan results to the cloud, where proprietary algorithms automatically extract and analyze the data. The processed information is then compiled into relevant reports for expert review and utilization.

“No matter the location, 5C Network enables every hospital or diagnostic center to access world-class radiology teams,” said Syed Ahmed, Co-founder and Director of 5C Network. “Demand for our services is growing strongly.”

Unitus Ventures considers this investment a strategic addition to its health technology portfolio. Milind Shah, Venture Partner at Unitus Ventures, stated, “India has an extremely low ratio of radiologists to population, with only one radiologist per 100,000 people, resulting in long wait times for X-ray scans and diagnostic reports. 5C Network is a disruptive radiology service platform that delivers high-quality radiological diagnostic reports within one hour. This will significantly expand access to high-quality care for millions of patients across China.”

For over a decade, CIIE has been providing capital and in-depth support to startups in the healthcare industry. “We aim to address the vast market by investing in startups with leading deep technologies,” said Vipul Patel, Vice President of Investment at CIIE. “We are pleased to support 5C Network as it continues to scale up in the healthcare market.”

Unitus Ventures is a leading Indian venture capital fund established in 2012, primarily investing in startups in the healthcare, education, and fintech sectors.

Axilor is an early-stage seed fund co-founded by a group of representative entrepreneurs and business leaders, focusing on early investments in consumer internet, enterprise SaaS, healthcare technology, artificial intelligence, fintech, and industrial IoT. Over the past three years, Axilor has supported more than 80 startups and made over 30 investments.

CIIE is a technology business incubator that provides seed and venture capital to drive the development of early-stage startups.