Kstart was started in February with the aim to accelerate disruptive ideas
Bangalore - August 24, 2016. RedNewswire/-
Kstart, the seed programme of venture capital firm Kalaari Capital, has invested $100,000 (about Rs 67 lakh) in artificial intelligence-based clinical imaging solution Advenio Technosys and $500,000 (about Rs 3.4 crore) in rental marketplace GuaRented."We are excited to support disruptive solutions like Advenio and GuaRented at Kstart. I am glad that we have been able to attract such a diverse set of companies in such a short span of time," said Vani Kola, MD of Kalaari Capital.
GuaRented, which provides appliances such as refrigerators, televisions, microwave ovens and washing machines on rent, plans to use the funds to scale up supply and build the technology platform.
"It is a pay-as-you-go service for consumer durables," said Harshwardhan Raikwar, CEO of Bengaluru-based GuaRented."We are tackling supply through a unique model called applied crowdfunding. We ask individuals to fund these assets for a share in the revenue. Whatever returns we get, we will share the revenue accordingly," he said.
The crowdsourcing model allows the startup to invite individuals to bear ownership of the appliances while GuaRented manages the operations and rentals.Advenio, which provides artificial intelligence-based computer assisted detection for diagnostic clinical imaging, plans to use the funds for enhancing the product and for clinical validation.
"We are into development of artificial intelligence-based software for diagnosing medical images. We try to find out abnormalities in clinical images," said Mausumi Acharyya, CEO of Advenio Technosys."There is a shortage of qualified clinicians, both in India and abroad. Our software is a prescreening solution. In the rural areas, you can use this to read reports. We are currently working on retinal images," she said.