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Anthill Ventures and HCG announce 6 startups for ‘Lumos Health’ programme

The programme is designed to help startups focused on emerging technologies in healthcare and life sciences accelerate their business growth by providing them support and mentorship.

ET Online|
Updated: Jul 18, 2019, 12.24 PM IST
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Lumos Health will help the selected startups to raise investments, provide assistance with mentoring and regulatory approvals, increase their customer base and generate more revenues.
BENGALURU: Anthill Ventures, an investment platform for early-stage startups, in partnership with HealthCare Global Enterprises Limited (HCG) today announced that it has shortlisted six startups for Lumos Health. Lumos Health is a market access programme focused on scaling technology startups in healthcare and life sciences.

The programme is for 12 months and had launched its call-for-applications during late last year. It is designed to help startups focused on emerging technologies in healthcare and life sciences accelerate their business growth by providing them support and mentorship. Lumos Health will help the selected startups to raise investments, provide assistance with mentoring and regulatory approvals, increase their customer base and generate more revenues. The six startups have been selected out of over 120 applications from across the world.

Lumos Health is focused on scouting startups in the verticals of oncology, fertility, genomics, bioinformatics and research and diagnostics. The six selected startups have developed solutions using key technologies such as image-based pathology, mobile health, artificial intelligence (AI),early detection of cancers, easy wound assessments).

Prasad Vanga, Founder and CEO of Anthill Ventures, said in a statement, “We are thrilled to work with these startups – Alixir, AyuRythm, BiMedis, C-Test Medicals, Kronikare, and Raybaby. We will scale them with speed to the global markets as some of them will work on real use cases, and deploy their products in real client engagements through our tailored market access programme.”

Anjali Ajaikumar, programme Director, Lumos Health & Vice President – Strategy & Quality, HCG Enterprise Limited said in a statement, “Under the Lumos programme, startups will enhance their product, have impactful interactions with our 30+ partner companies in both the local and global network and see how their company is making a difference in the quality of health and patient care.”

This cohort of the latest generation of healthcare & life sciences startups will benefit from:
  • Smart Capital through Anthill Venture Fund and investor ecosystem.
  • Access to diverse customer network through partnerships with corporates, hospitals, NGOs, various government bodies and foreign embassies.
  • Access to extensive R&D facilities at HCG.

20 startups were presented to a jury comprising of subject matter experts from HCG, Anthill Ventures, and external industry members for the shortlisting process. The participants were reviewed based on the quality of technology solution, product/solution readiness, and growth potential.

A panel discussion was organised during the launch of Lumos Health programme by HCG and Anthill Ventures on how to scale up the healthcare delivery ecosystem collaborating with startups. which was moderated by Dr BS Ajaikumar, Chairman and CEO, Healthcare Global Enterprise.

The six chosen startups are:
  1. Alixir (HQ: Australia) aims to replace the reliance on radiologists with an Artificial Intelligence (AI) system that scans digital mammographs and detects breast cancer. AI system provides an instant report with 96% sensitivity and 95% specificity. Accuracy achieved through usage of “gold standard data” i.e. biopsies and diagnoses from surgeons. Brings in value for Radiologists, Patients, Doctors, caregivers and the entire hospital system.
  2. AyuRythm (HQ: India) can detect the age-old and renowned Naadi Pariksha (Pulse diagnosis), via a smartphone camera which integrates pulse detection technology and Ayurveda. It then uses AI algorithm to recommend proactive solutions for the underlying causes and treatments of the ailments and stress-related issues. Brings in value for Ayurvedic and alternate medicine users, as well as enthusiasts interested in natural fitness.
  3. BiMedis (HQ: Ukraine) is an international medical equipment trading platform where medical devices buyers, sellers and service providers from all over the world can come together and communicate and close their deals in a professional environment. Unlike some of the marketplace aggregators BiMedis doesn’t charge a sales commission instead runs on ad revenue. Brings in value for equipment manufacturers, hospitals, clinics, doctors and other service providers.
  4. C-Test Medicals (HQ: India) designs and manufactures a ‘Sampling’ tool which collects cells from the tissue in very painless fashion without any bleeding, needles, sutures and anti-biotics. It is the first in the market to provide a sampling tool to collect cells from 3 rd layer of epidermis (to detect oral cancers at an early stage). Brings in value for Hospitals, Clinics, Dentists, ENTs, Nurses, Government programmes and service providers in rural areas who don’t have access to healthcare facility.
  5. Kronikare (HQ: Singapore) offers a mobile application along with a hardware device that uses computer vision, thermal imaging and laser for Wound & Tissue Analysis, Detecting Complication and Preventive Care. It is one of the few companies to use Machine learning and AI to understand tissue damage, assess wounds and predict complication against traditional manual inspection & caregivers’ guess work. Brings in value for hospitals, caregivers, patients with quicker and accurate assessments of chronic wounds
  6. Raybaby (HQ: US) is a non-wearable sleep and breathing monitor, choosing breathing as one of the most important vital signs to track. It combines radar sensor with AI powered platform to create intelligent and accurate baby monitor. It's incredibly child-friendly design fits easily in a child&'s nursery. Brings in value for parents, childcare centers, caregivers, baby.
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