The landscape of healthcare has undergone a profound transformation, with technology emerging as the driving force behind its evolution. Today, the entire healthcare ecosystem is intricately intertwined with digital solutions, revolutionizing the way we approach patient care, diagnosis, treatment, and management.
Since 2018 AI expenditure in India increased by over 109% and expected to reach $11.78 billion by 2025, mentioned by world economic forum. AI-based tools can use high-quality de-identified images to enable machine learning models to detect biomarkers and improve outcomes for cancer research.
Manentia AI, led by Founder and CEO, Anuj Chandalia says their mission is clear i.e. to harness the power of AI in addressing critical healthcare challenges. Innovation and excellence in applying cutting-edge technology transforms the way healthcare is delivered and experienced.
Jitender Singh Virk, the Co-Founder & CTO of Manentia AI, along with a team of 10+ AI/ML engineers, collectively bring a wealth of experience in innovation and technology to the organization.
Meet the team from Manentia AI
Founder Labs, a platform dedicated to fostering the start-up ecosystem via entrepreneurship related stories, particularly interested in exploring the healthcare ecosystem in the new age of digitalization, spoke to Anuj Chandalia, Founder, CEO of Manentia.
Anuj elaborated on various issues, challenges that often engulf a start-up business in the healthcare ecosystem. The company aims at solving problems related to early disease detection, enabling timely interventions, and ultimately improving patient outcomes.
Manentia aims at, mainly to enhance diagnostic accuracy, workflow efficiency and improve the quality of care being delivered by adoption of their AI-driven solutions. The company offers a wide range of solutions, starting from their PACS system for image storage and data management in hospitals and diagnostic centers, to their proprietary and standalone DICOM viewer, designed for seamless integration with other B2B technology providers.
Their primary focus is on disease detection and workflow automation using AI. The PACS, combined with their patented AI solutions, enables this.The flexible payment options, ranging from a pay-per-scan model to monthly subscription packages.
‘Anuj says for aspiring entrepreneurs in healthcare technology space, the aim should be on focusing on real world problem’.
Read the below excerpts:
FounderLabs: Many companies use AI for medical imaging analysis. How does Manentia AI’s technology differentiate itself and address the limitations of existing methods?
Anuj Chandalia: Manentia AI distinguishes itself through the accuracy, user experience, and seamless integration options offered by it’s technology.
With a staggering accuracy rate of over 96% in segregating normal versus abnormal scans, our technology enables faster screening and reduces the workload on radiologists. Moreover, their AI solutions have an accuracy rate exceeding 97%, proving invaluable for radiologists in preparing diagnostic reports efficiently.
In addition, Manentia AI features an auto-report generation function powered by LLMs (Large Language Models), enabling radiologists to review and make necessary modifications swiftly, thus saving time compared to manual report creation. Furthermore, the DICOM viewer is equipped with segmentation and annotation tools, providing flexibility and ease of use for radiologists and doctors, regardless of their level of experience.
The company is meticulous in selecting the data to build our system, ensuring diversity in both data sources and the range of pathologies also the machine outputs using which our systems have been trained. This extensive approach has enabled them to develop a highly robust and scalable AI solution tailored for both the Indian and global markets.”
As a team, we are also preparing to launch a new product later this year aimed at democratizing AI in healthcare and driving rapid adoption.
FounderLabs: Is Manentia AI considering applying its AI expertise to other areas of healthcare, such as drug discovery or personalized medicine?
Anuj Chandalia: The company’s focus lies in advancing medical diagnostics and streamlining workflow automation, we are continuously seeking avenues for growth and expansion within the broader healthcare landscape. This includes exploring opportunities in diverse areas such as drug discovery, personalized treatment planning, and predictive analytics.
By leveraging our expertise and innovative AI technologies, we aim to revolutionize various aspects of healthcare delivery beyond medical imaging.
However, at present, we are dedicated to solidifying our position and enhancing our capabilities in medical imaging, ensuring that we provide cutting-edge solutions that meet the evolving needs of healthcare providers and patients alike.”
FounderLabs: Building an AI startup presents challenges. Can you describe a
specific challenge Manentia AI faced while developing its technology, and how you overcame it?
Anuj Chandalia: When venturing into the healthcare AI domain, one of the primary challenges encountered is obtaining high-quality data encompassing all pathologies, which proves to be both time-consuming and challenging.
With very limited capital, the team was able to achieve this in under three years, including two patents. This gives us the confidence to persevere and build Manentia into a globally recognized company.
Another significant challenge is securing patient capital. Angel investors and venture capital funds often operate within shorter return timelines than what is required for building a large-scale deep tech start-up.
Access to both capital and data serves as catalysts in propelling growth. However, it’s imperative for any team to have a strong technology foundation in place to conceptualize and execute such futuristic ideas that have the potential to revolutionize the healthcare industry.”
FounderLabs: What role do startups play in the Indian healthcare scenario? What factors should companies watch out for to survive in this evolving landscape?
Anuj Chandalia: Start-ups play a pivotal role in catalysing innovation and meeting unmet demands within the Indian healthcare sector. Yet, they encounter obstacles such as regulatory complexities, adoption barriers, and competition.
Manentia secured regulatory approvals, including the CDSCO and CE certifications, and are actively pursuing US FDA approval. We are also ABHA compliant (ABHA – Ayushman Bharat scheme, a flagship healthcare initiative introduced by the Government of India) I believe this is crucial for any start-up that is aiming for sustainable success.
Furthermore, adherence to HIPAA compliance ensures the secure storage of data within the companys PACS system, offering peace of mind to all stakeholders involved.”
FounderLabs: Developing products in healthcare requires long-term vision, patience to navigate this complex ecosystem, and cautious investors. How does Manentia AI address these challenges?
Anuj Chandalia: “In the domain of healthcare innovation, developing products necessitates more than just unique ideas; it requires steadfast commitment to a long-term vision. The goal is to blend our visionary aspirations with agile go-to-market strategies, ensuring rapid and effective product deployment.
Recognizing the importance of patience and resilience, the company prioritized sustainable growth. By fostering a culture of perseverance and determination within the team, we’re committed to building for the long run
“Additionally, we understand the significance of gaining the trust and support of investors. By maintaining transparency in our operations and forging strategic partnerships, we aim to build confidence among our current investors and those considering investment in Manentia.
FounderLabs: How are you creating awareness about your product and reaching the right audience?
Anuj Chandalia: In our efforts to raise awareness, we employ a comprehensive approach that encompasses a variety of strategies. This includes implementing targeted marketing campaigns tailored to our audience’s preferences and needs.
Strong emphasis is laid on collaboration with key opinion leaders in healthcare sector. Additionally, all digital channels are utilized such as social media, email marketing, and online advertising to extend our reach and connect with potential users.
We curate thought leadership content that demonstrates our expertise and provides valuable insights into the challenges and opportunities within the healthcare industry.
In addition the marketing initiatives actively engage in academic pursuits to fortify Manentia AI’s presence in the healthcare sector. This includes participating in paper presentations, contributing to clinical research endeavours and conducting rigorous validation studies to ensure the reliability of our solutions.
FounderLabs: What is your plan for the next 5 years? What specific areas are you looking to invest in for expansion?
Anuj Chandalia: Over the next 5 years, our primary focus is on driving adoption of AI across various aspects of the healthcare industry by expanding our product portfolio, consolidating our presence in current markets, and venturing into international markets.
We’re also committed to investing in research and development to enhance our offerings, acquiring top talent to strengthen our team, and forming strategic partnerships to drive innovation and propel our growth.
FounderLabs: As a successful AI Startup founder, what key pieces of advice
would you offer aspiring entrepreneurs, especially those in the healthcare
technology space?
Anuj Chandalia: Aspiring entrepreneurs in the healthcare technology space should focus on solving real-world problems, staying abreast of industry trends, and building a strong interdisciplinary team.
It’s essential to cultivate resilience, embrace failures as learning opportunities, and seek mentorship from seasoned professionals. Additionally, maintaining a clear vision, staying adaptable, and fostering a culture of innovation are key to long-term success.
Of course, we are all learning, but this is just my two cents on what helped me through our journey at Manentia and what keeps me going!”
FounderLabs: Can you share your approach to maintaining passion and
motivation when faced with inevitable challenges?
Anuj Chandalia: “Maintaining passion and motivation amidst challenges requires a strong sense of purpose, resilience, and a supportive team.
I personally draw inspiration from our mission to make a meaningful impact in healthcare, and I remain motivated by the positive feedback from users and the prospect of transforming patient care.
Cultivating a healthy work-life balance, celebrating milestones, and staying connected to our core values also contribute to sustaining motivation.
