South African e-health startup Envisionit Deep AI has raised US$1.65 million in funding to unlock its next phase of growth, as it aims to address critical shortages in the African and emerging market healthcare sector and democratise access to diagnostic imaging using artificial intelligence (AI).
Founded in 2019 by Dr Jaishree Naidoo, Andrei Migatchev and Terence Naidu, Envisionit Deep AI builds innovative medical solutions that harness the power of AI to transform how healthcare professionals diagnose and treat patients.
Through solutions such as its RADIFY AI technology, the company is improving the speed, accuracy, quality and affordability of medical imaging diagnosis, which is crucial in the early detection and treatment of various diseases including tuberculosis, coronavirus pneumonia and breast cancer, among others.
The US$1.65 million funding comes from New GX Ventures SA, with an additional undisclosed raise from the GIIG Africa Fund, after Envisionit Deep AI was named a Southern Africa regional winner at the African Startup Awards.
The funding will be used to help the startup address critical shortages in the African and emerging market healthcare sector and democratise access to diagnostic imaging using AI.
“There is huge demand for healthcare services in Africa, particularly in the field of medical diagnostics. In 2022 alone, we screened and triaged 64,351 patients, including 44,529 cases of pneumonia, 1,635 cases of tuberculosis, and a further 127,151 pathologies. However, this is just scratching the surface – the current system just isn’t able to address the massive need and demand,” Naidoo said.
“As a clinician and CEO, I’ve seen firsthand how innovation presents a positive-sum scenario, where advanced technology makes it easier for doctors to provide quality care at scale, offers deeper insights into how to better treat patients, and in the long-run, improves the feasibility of both healthcare facilities and the systems they operate in. 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.”