RedBrick AI Raises $4.6 Million In Seed Funding The fund raised will be used for the growth of the engineering team in India and to expand the suite of products
By Teena Jose
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Health-tech AI platform RedBrick AI has raised $4.6 million in a Seed funding round to accelerate the development and adoption of artificial intelligence in clinical settings, through rapid data annotation on medical imagery. The round was led by Sequoia India and Southeast Asia's Surge, with participation from Y Combinator and angels. The fund raised will be used for the growth of the engineering team in India and to expand the suite of products.
"With the rapid growth of artificial intelligence in clinical settings, researchers need excellent tools to build high-quality datasets and models at scale. Our customers are in the vanguard of this growth, pioneering everything from surgical robots to automated detection of cancers. The new funds will be integral to the growth of our engineering team in India and to expand our suite of products. We're incredibly excited to be powering the next generation of researchers in building AI for clinical settings," said Shivam Sharma, co-founder and CEO, RedBrick AI.
Medical imagery is an essential source of truth in clinical diagnosis and comprises about 90 per cent of all healthcare data AI systems can dramatically shorten the time to diagnosis, improve clinician productivity by triaging high-importance cases, and act as the first line of defense in under-staffed clinical environments. RedBrick AI's tools address several challenges unique to medical data annotation, such as the complexity of existing annotation tools, quality control and machine learning integration. The platform's specialized annotation tools can be accessed through the browser and are designed to be used without prior training. Its API also helps machine learning engineers integrate with their cloud and clinical data stores, for example, AWS or hospital enterprise PACS servers, said the company in a statement.
Founded in 2021 by Shivam Sharma and Derek Lukacs, the RedBrick AI is a SaaS platform that offers high-performance web annotation tools for 2D and 3D data to give experts access to specialized tooling right from their browsers.
Researchers and healthcare institutions are increasingly investing in AI solutions to improve diagnostics, treatment, and patient quality of care. The use of AI in healthcare stands to transform patient care by boosting clinician productivity and automating clinical diagnosis. In 2021 alone, the U.S. Food and Drug Administration (FDA) approved 115 AI algorithms for use in medical environments, an 83 per cent increase from 2018, the statement added.
