Medprime Technologies, a medical device company specialising in healthcare diagnostics, has announced the completion of its Pre-Series A funding round. The investment comes from Ashish Kacholia, Co-founder of Hungama Digital and one of India’s top investors.
The new funds will be utilised to accelerate Medprime’s growth in the international market, particularly focusing on its digital microscopy solution, CILIKA. In addition, the investment will enable the company to launch advanced AI modules for its MICALYS platform in India, enhancing its capabilities in medical diagnostics. Upgrades to Medprime’s manufacturing processes are also planned, aimed at improving efficiency and increasing production capacity to meet growing global demand.
Medprime has built a strong presence in digital microscopy, with its devices currently used by prominent institutions across India. These include the All-India Institute of Medical Sciences (AIIMS), Maulana Azad Medical College, Grant Medical College, Banaras Hindu University, IIT Delhi, IIT Madras, Dr Lal Path Labs, Apollo Diagnostics, and Dr Rajendra Prasad Central Agricultural University. These partnerships highlight the wide adoption of Medprime’s digital microscopes and its growing reputation in the healthcare sector.
Medprime’s MICALYS platform, which incorporates AI-driven healthcare solutions, is set to benefit from the upcoming AI modules, further advancing the company’s mission to improve medical diagnostics through cutting-edge technology.
Ashish Kacholia, speaking on his investment, said, “The future of healthcare lies in the convergence of technology and medicine. With Medprime’s approach and their commitment to improving lives, I believe this partnership will lead to significant advancements in medical diagnostics.”
The company also plans to expand its manufacturing capabilities. These upgrades aim to enhance efficiency and scale production, enabling Medprime to meet the increasing needs of healthcare providers worldwide.
Greeshma Unnikrishnan, Co-founder of Medprime Technologies, expressed enthusiasm about the new partnership, stating, “We are thrilled to have Ashish Kacholia on board. His investment and vision align with our mission to transform healthcare through innovation. With these additional resources, we will enhance our AI capabilities and improve our manufacturing processes, making our solutions even more accessible.”
The funding round will enable both technological advancements and operational scaling, reinforcing Medprime’s focus on advancing AI applications in healthcare.
Founded in 2014 by four biomedical engineering graduates from IIT Bombay, Medprime has received support from various Indian and global entities. The company is backed by SAMRIDH, supported by USAID and managed by IPE Global, and has received grants from BIRAC’s BIG and SBIRI initiatives. Medprime’s growth has also been facilitated by partnerships with academic institutions like IIT Bombay, incubators such as SINE and Venture Centre, and industry groups like NASSCOM. Venture capital firms including Lavni Ventures, Riso Capital, Mumbai Angels, and Keiretsu Forum have recognised Medprime’s potential and contributed to its development.
S Dayma & Co served as the exclusive legal and financial advisor for Ashish Kacholia in this transaction.