RedBrick AI, a Delaware-headquartered health tech startup, has raised $4.6 million in a funding round led by Sequoia India and Southeast Asia’s Surge. This investment will enable the company to expand its market for its medical imagery annotations solution.
The Problem with Medical Image Annotation
Artificial intelligence (AI) has become ubiquitous in clinical diagnosis. However, researchers need much of their initial time preparing data for training AI systems. The training process requires hundreds of annotated medical images and thousands of hours of annotation by clinicians. This process is not only time-consuming but also labor-intensive.
RedBrick AI’s Solution
RedBrick AI is solving this problem with its automated and semi-automated annotation tools. Co-founder and CEO Shivam Sharma said that the startup helps make annotations up to 60% faster using its configurable workflow system that works with medical imagery such as CT scans, X-rays, MRIs, and ultrasound.
The Foundational Layer of Artificial Intelligence in Healthcare
"We see ourselves building the foundational layer of artificial intelligence in healthcare," said Sharma. "In the future, we want to help teams with everything from data preparation to FDA clearance of algorithms."
How RedBrick AI Works
RedBrick AI offers specialized annotation tools that can be accessed through a web browser and integrated within customers’ existing data storage system, such as AWS, Google Cloud Platform, and Azure. For annotating complex 3D medical images, it also has semi-automated tools.
Image Credits: Redbrick A
The startup provides APIs that machine learning engineers can integrate with their cloud solutions and clinical data stores, including hospital enterprise PACS servers. "Clinicians just need to log into their browser, and the workflow aspect of it is all automated," said Sharma.
Once correctly annotated, imagery can be used for faster and more detailed diagnosis. The annotated imagery can also be used by surgical robots and to automate detection of cancers.
RedBrick AI’s Competition
The startup has a seven-member team that is mostly based in India, though the startup focuses primarily on the U.S. and Europe for marketing its tools. RedBrick AI sees 99% of competition coming from open source tools, followed by in-house ones developed by companies to address their specific requirements.
Early Customer Base
The early customer base of RedBrick AI includes Germany’s biotech startup Orbem, Canada’s cancer and disease screening platform Prenuvo, Boston-based nonprofit hospital and physician network Mass General Brigham, and Maharashtra’s radiology AI platform Deeptek.
Funding Round Details
The all-equity seed round also saw participation from Y Combinator and angel investors. Before this round, the startup was named among Y Combinator’s Winter 2022 cohort that was dominated by 32 Indian startups.
Plans for Future Growth
Sharma said RedBrick AI plans to utilize the fund to go beyond its current customer base and reach enterprises. It also plans to hire new engineers to expand the specialized toolset.
Conclusion
RedBrick AI’s $4.6 million funding round is a significant milestone in the health tech startup’s journey. With its automated and semi-automated annotation tools, the company is poised to make a significant impact on the medical imaging industry.
Related Topics
- Biotech & Health: This article falls under the category of biotech and health.
- HealthTech: RedBrick AI is a health tech startup that offers automated and semi-automated annotation tools for medical imagery.
- India: The company has an Indian subsidiary in Pune and focuses primarily on the U.S. and Europe for marketing its tools.
- Sequoia: Sequoia India led the funding round, which also saw participation from Southeast Asia’s Surge.
- Startups: RedBrick AI is a startup that aims to make annotations up to 60% faster using its configurable workflow system.
Related Articles
- Apple Brings Store App to Indian Market
- Venture Capitalists Invest $75B in Q4, but Startups Still Face Challenges Raising Funds
- Failed Fintech Startup Bench Racked Up Over $65 Million in Debt
About the Author
The author of this article is a health tech enthusiast with expertise in medical imaging and artificial intelligence. They have written extensively on topics related to biotech and healthcare and have a keen interest in startups that aim to make a significant impact on the industry.
Contact Information
If you would like to reach out to the author or learn more about RedBrick AI, please contact them at info@redbrick.ai.
