The National Incubation Center has announced that its alumni startup, Xylexa, has raised a pre-seed round of investment.
Xylexa is using Artificial Intelligence and Machine Learning to develop a computer-aided diagnostics platform, for automated, accurate, timely and cost-effective medical image diagnosis.
Using pathology-verified data, Xylexa’s computer vision and ML algorithms analyze and interpret a patient’s medical image (mammogram) to detect breast cancer. Xylexa’s early detection methods and algorithms improve Radiology workflow while saving lives and optimizing diagnostics’ accuracy, cost and time.
Xylexa, a startup from NIC’s 5th Cohort, has committed relentlessly towards its idea to bring about a radical transformation in the medical image diagnostics industry. The startup has earned recognition for its achievements on multiple platforms and events throughout its journey so far.
As winners of Uber Pitch 2018 and a finalist at the Takeoff International Startup Summit 2019, the startup has made the National Incubation Center proud. For its achievements, the startup bagged the ‘Stars of NIC’ award, and presented its idea to the Prime Minister in a ceremony in February 2020. The team believes that the NIC has played an integral role in its success, and attributes its achievements to the enriching experience at the NIC.
“The National Incubation Center was indeed the stepping stone our startup needed. From mentorship to industry linkages, to pitching for investment, the NIC platform served as the biggest enabler. Today, we are extremely happy to raise a pre-seed round of investment, and would like to extend our gratitude to the NIC team for its continuous support.”-Founder, Xylexa
The investment, raised through Epiphany’s Angel Investors, will enable Xylexa to advance its current technology while supporting clinical trials and pilots, beginning in Q2, 2020 in Europe. It will also pave the way for the company to fast-track mammography-related diagnostics capabilities to systemic disease detection such as congestive heart failure, superior vena cava syndrome and dermatosis.