Tata Capital infuses $10 Million in healthcare startup DeepTek

Tata Capital announced $10 million in funding in Pune-based healthcare startup DeepTek recently. Tata Capital Healthcare Fund II, the investment wing of Tata Capital, has funded DeepTek’s expansion and empowerment. Pune-based Pentathlon Ventures and GHV also participated in this round of financing. This happens to be the first investment by Tata Capital Healthcare Fund in the digital healthcare sector.

The investment in DeepTek is an indicator of Tata Capital’s commitment to accelerating the growth of AI-powered radiology in India. DeepTek is one of the very few AI companies working with radiology and advanced medical imaging. They have successfully been able to monetize their products, and TATA Capital Healthcare believes in the startup’s vision.

DeepTek was founded in 2017 by Ajit Patil and Amit Kharat. The company is at the forefront for developing AI-driven radiology solutions and disrupting the space. The startup enables hospitals clinics and diagnostic centers to efficiently, intelligently, and accurately interpret scans and report them.

DeepTek’s branded product Augmento is a cloud-based picture archiving and communication system (PACS) for AI-driven radiology imaging. It automates medical image analysis. Other DeepTek solutions include those for teleradiology, X-Ray, and CT scans.

According to the startup, its clientele consists of over 150 hospitals and diagnostic centers across India, Japan, and APAC. The startup joined GHV Accelerator in 2019 and raised investments from NTTData, Nobori Ltd (Japan), and Pentathlon Ventures. Tata Capital closed the deal from its second healthcare fund, which has a corpus of $200 Million. Its fund size is $5 Million to $15 Million with a holding period of five years.

DeepTek said this funding will allow it to invest further in global outreach and securing regulatory approvals. The startup’s core focus is on building AI tools for radiology diagnosis. “DeepTek’s AI-enabled radiology solutions transform radiology operations, enabling productivity growth by 3x to 5x,” said Dr. Amit Kharat, Co-founder and CEO, DeepTek. “Via our offerings, we touch the lives of over 500,000 patients each year,” Kharat added.