RedBrick AI raises $4.6 million in seed funding
Health-tech AI startup RedBrick AI has raised $4.6 million in a seed funding round. This funding round was led by Sequoia India and Surge with participation from Y Combinator and angel investors. The company will use this funding to expand specialized tooling, hire more engineers and grow its customer base.
RedBrick AI was founded in 2021 by former SpaceX Hyperloop engineers Sharma and Derek Lukacs. The company aims to accelerate the development and adoption of AI in clinical settings through data annotation on medical imagery.
“With the rapid growth of artificial intelligence in clinical settings, researchers need excellent tools to build high-quality datasets and models at scale. Our customers are in the vanguard of this growth, pioneering everything from surgical robots to automated detection of cancers,” RedBrick AI CEO and co-founder Shivam Sharma said.
RedBrick AI offers web-based annotation tools that can also be integrated into customers’ existing data storage systems. The company also provides APIs that can be integrated with other clinical data stores and cloud solutions.
The primary market for the company is the U.S. and Europe but its team is based in India. The company counts Orbem, Prenuvo, Mass General Brigham, and Deeptek as its clients.
The use of AI in healthcare is increasing rapidly. In 2021, the US Food and Drug Administration approved 115 AI algorithms to use in the medical field. It was an 83% increase from 2018. Ai is really helpful in medical research because it helps in analyzing and identifying patterns in large, complex datasets. It saves time and improves efficiency.