RedStart Labs, a subsidiary of InfoEdge formed in 2020, has invested close to Rs 1 crore in Bengaluru-based health technology startup BrainSightAI, according to a report by Economic Times citing a BSE filing on Monday.
As per the BSE filing, RedStart holds 4% stake in BrainSightAI on a fully converted and diluted basis. However, aggregate shareholding of the company after the current investment cannot be estimated.
Bengaluru based BrainSightAI is an AI enabled application suite developed by a diverse and expert team of scientists, researchers and designers. It provides evidence-based treatment hooks for neurosurgeons, psychiatrists and neurologists; and a private and empathetic digital aid for patients.
According to the filings, "RedStart has agreed to invest an aggregate amount of Rs 98,94,000 by way of subscribing to convertible notes. Since the note would be converted into shares in the next round basis the valuation at that time, aggregate shareholding of the company through RedStart, post this investment cannot be estimated at the time of making the intimation."
Founded in 2019, by Laina Emmanuel and Dr.Rimjhim Agrawal, BrainSightAl combines artificial intelligence and neuroscience to enable greater precision in neurological and psychiatric investigation for accelerated patient outcomes.
The health tech startup currently provide two Al based flagship solutions — Voxelbox and Snowdrop. Voxelbox provides clinicians with access to a world-class fMRI processing engine and machine-learning models for generating reports to aid clinical decision making.
While, Snowdrop is a Patient care app that enables compliance with treatment schedule and build a holistic patient profile between visits with reports triangulated from patients, caregivers and our Al engine.
About RedStart Labs, its a corporate venture capital firm and a subsidiary of InfoEdge, the parent of 99acres.com and Naukri.com. It invests in early stage Science and technology companies.
Apparently, BrainSightAl is first investment of RedStart Labs in this year. Earlier in last year, it had invested in Lumiq, a data analytics startup, WSO2, a PaaS startup for customer identity and access management (CIAM), and Beatoven.ai, an AI-powered music generation tool for video and podcast content creators.
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