Japan’s NTT invests in medical imaging AI start-up DeepTek

#News(Startup) [ via IoTForIndiaGroup ]

Japanese IT service provider, NTT DATA has invested in medical imaging AI start-up company DeepTek. NTT has not disclosed the size of investment.
Ajit Patil, co-founder, DeepTek, said this was a seed stage funding and NTT had picked up 10-15% stake in the company and they had formed a strategic equity partnership with NTT Data.

This funding would take care of their need for around two and half years but they are looking at further global alliances and venture funding, he said. DeepTek is co-founded by Dr Amit Kharat a leading radiologist in the country, Aniruddha Pant an AI technology expert with a Berkeley University PhD, and Ajit Patil, a serial entrepreneur, whose earlier start-up exited to NTT DATA Corp.

The company is headquartered in the US with work being done out of the centre in Pune. They are looking at disrupting the service model in the radiology industry with more accurate reports at faster times and at lower costs. The one-year-old company is already earning revenues of around Rs 5 crore with 70% of revenues coming from India and 30% from the US, Patil said. They believe that the AI technology has the promise to transform the global radiology market with potential to reduce workload of the radiologists, expedite the diagnosis process and improve productivity of radiologists.

DeepTek is leveraging AI technology to develop an advanced decision support system for radiologists. DeepTek’s solutions are designed to help reduce radiologists’ workload and expedite the diagnosis process.

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