RedBrick AI, a healthtech platform, announced on Wednesday that it had raised $4.6 million in a seed funding round led by Sequoia India and Southeast Asia’s Surge, with participation from Y Combinator.
The startup, run by RedBrick AI, aims to address a major barrier to healthcare AI adoption by providing clinicians with high-quality data annotation tools that speed up the preparation of training datasets.
RedBrick was founded in 2021 by Shivam Sharma and Derek Lukacs, with Sharma serving as CEO and Lukacs as CTO. Both have previously worked on Hyperloop technology for SpaceX and competed in the SpaceX Hyperloop Pod Competition. Sharma holds a bachelor’s and master’s degree in aerospace engineering from the University of Michigan, while Lukacs holds a bachelor’s and master’s degree in aerospace engineering from the University of Michigan.
The tools developed by RedBrick AI address several challenges specific to medical data annotation, including the complexity of existing annotation tools, quality control, and machine learning integration. The platform’s specialised annotation tools are browser-based and intended to be used without prior training. In addition, RedBrick AI provides semi-automated tools for annotating complex 3D medical images.
AI in healthcare has the potential to transform patient care by increasing clinician productivity and automating clinical diagnosis. The US Food and Drug Administration (USFDA) approved 115 AI algorithms for use in medical settings in 2021 alone, an 83 per cent increase from 2018.
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