Neurosynaptic Communications, that offers e-health and m-health technology solutions, has raised an undisclosed amount in Series A round of funding from healthcare focused venture fund Healthquad, Indian Angel Network and Infosys co-founders-backed Axilor Ventures.
Healthquad and IAN will be joining the board of the company.
The company plans to utilise the investment for International Certifications and launch of its products and to scale international business in Africa and South / South East Asia and further penetration across India. They are also in the process of launching the upgraded version of its flagship ReMeDi platform, which would offer SaaS based (pay-per-use) telemedicine and m-health solution along with a wider range of diagnostics, it said in a statement.
The company has earlier received strategic investment from e-Zest Solutions Ltd, a global digital experience engineering company, with large international organization on healthcare product innovation.
Neurosynaptic founded by Sameer Subhash Sawarkar and Rajeev Kumar, works on telemedicine solutions that connect rural areas. The company has a cloud-based telemedicine platform ReMeDi (Remote Medical Diagnostics), that provides screening, primary diagnosis and triaging capabilities, offering more than 35 points of care diagnostics including physiology, urine and blood chemistry tests etc.
"Not only does ReMeDi? connect up the entire fragmented ecosystem for last-mile delivery, but it also offers several features like workflow configuration, and the latest sensor and wireless communication technologies. Our Patented Safe Devices technology helps curb the misuse of devices and eliminates human errors. The soon-to-be-launched ReMeDi-NOVA and pay-per-use model with Cloud, Mobile Technologies, UX and Analytics, shall revolutionize the last-mile healthcare access. We are delighted to have such strong support from our investors who are equally focused in bringing about large scale impact and building a global enterprise for social change," said Sawarkar, CEO of Neurosynaptic.
The company has reached over 50 million population till date by deploying it's ReMeDi solution in over 2,000 villages across India.
"This solution takes care of accessibility, which is a primary driver in the under developed markets and affordability, which drives the need in developed markets. Governments and insurance agencies are working towards building a conducive environment for accelerated acceptance of such solutions. We feel that Neurosynaptic, with its proprietary product and solutions offering and deep experience is best placed to capture the opportunity in this region. We will work closely with the company to help build their growth plan as they move along in expanding their network & adding the services on their platform,"said, Amit Varma, Sponsor of Healthquad.