Tata 1mg makes strategic investment in diagnostic platform 5C Network
Prashant Tandon said that the vision of 1mg strongly resonates with 5C Network which is to improve healthcare outcomes using technology
PremiumHealth technology platform Tata 1mg has invested in digital diagnostic platform 5C Network for an undisclosed amount.
Other investors who took part in this round include Vikram Vuppala (founder, and CEO at Nephroplus), Om Manchanda (Managing Director at Lal Pathlabs), Viren Prasad Shetty, (COO of Narayana Health), among others.
“Building India’s digital diagnostic infrastructure, 5C Network has found the perfect partner in 1mg to make this vision a reality. Through our proprietary AI-powered reporting platform, 5C has the ability to report even complex radiology cases in less than 60 minutes and have helped deliver over 3.5 million diagnoses to patients in 27 states," said Kalyan Sivasailam, CEO, and co-founder, 5C Network.
"We are delighted to partner with the Tata 1mg team and some of India’s leading healthcare angels, who vibe with our vision. The opportunity for scale and impact is massive and we couldn’t have found better partners to work with us on this," he added.
Founded in 2016 by Kalyan Sivasailam and Syed Ahmed, 5C Network is a digital platform that enables the storing, sharing, and interpreting of radiology images across India. It helps hospitals and diagnostic centres to maximise the return on investment (ROI) on their radiology machines by making specialists available.
According to the statement, 5C Network has the ability to report even complex radiology cases in less than 60 minutes and have helped deliver over 3.5 million diagnoses to patients in 27 states
Speaking about the strategic investment Prashant Tandon, co-founder, and CEO of 1mg said that the vision of 1mg strongly resonates with 5C Network which is to improve healthcare outcomes using technology.
Founded in 2011 by Tandon, Gaurav Agarwal and Vikas Chauhan, Tata 1mg is a healthcare platform that provides services such as e-pharmacy, e-consultation, among others. It raised a pre-Series A funding of $1.2 million (around ₹10 crore) from Unitus Ventures and Axilor Ventures in 2020. Last year in June, Tata Digital, a 100% subsidiary of Tata Group acquired a majority stake in 1mg.
Tags: Tata 1mg, 5C Network, Vikram Vuppala, Kalyan Sivasailam, Syed Ahmed.
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