San Francisco-based radiology tech startup, CARPL, has successfully raised $6 million in funding, marking a significant milestone in its mission to address the global shortage of radiologists. The funding round was led by Stellaris Venture Partners, with notable participation from angel investors associated with Novo Holdings, Leapfrog PE, Bain & Co., Boston Consulting Group, and United HealthGroup, among others.
Founded in 2021 by Dr. Vidur Mahajan, CARPL.ai stands out as a vendor-neutral Artificial Intelligence (AI) platform dedicated to simplifying the integration of radiology AI solutions into clinical practice. The startup’s innovative approach focuses on providing a unified ecosystem for radiologists, allowing them to access, assess, and seamlessly integrate a wide array of AI applications.
The funding infusion comes at a crucial time when the demand for efficient radiology solutions is on the rise globally. With over 200 companies vying to create AI applications to automate aspects of the radiology process, CARPL emerges as a key player in guiding healthcare providers through the complex landscape of radiology AI apps.
Notable entities such as the Singapore government, University Hospitals in Cleveland, Massachusetts General Hospital, Radiology Partners, University Hospitals, I-MED Radiology, Albert Einstein Hospital, and the Clinton Health Access Initiative already utilize CARPL’s services.
CARPL’s approach is rooted in a unique DEV-D framework, helping radiology teams Discover, Explore, and Validate AI apps from its extensive marketplace, subsequently facilitating their Deployment. The platform has successfully onboarded more than 50 AI developers, offering a staggering 100+ applications, making it the largest AI marketplace in terms of AI apps available to customers.
Dr. Vidur Mahajan, CARPL’s founder, brings over 12 years of experience in the diagnostics industry, having previously achieved a remarkable 10x revenue growth to $20 million in a decade at Mahajan Imaging, a family-owned radiology service provider. Dr. Mahajan’s extensive background in the field led him to recognize the challenges faced by healthcare providers in adopting AI solutions due to the diverse nature of apps available for different body parts and diseases.
CARPL’s innovative solution provides a single user interface, a single data channel, and a single procurement system for healthcare providers, streamlining the testing, deployment, and monitoring of AI solutions. This not only simplifies the selection process but also accelerates the validation and deployment phases, addressing the traditional challenges associated with integrating multiple AI solutions.
Stellaris Venture Partners partner Alok Goyal expressed confidence in CARPL’s potential, stating, “The volume of imaging scans is steadily growing 9% year-on-year, yet the number of radiologists joining the workforce is only 1.8%. Bridging this demand gap is a crucial challenge for healthcare providers, and we believe AI will be the key.”
CARPL’s mission extends beyond radiology, with plans to expand into other sub-specialities such as digital pathology, oncology, cardiology, dermatology, ophthalmology, and gastroenterology. With its recent funding injection, CARPL is well-positioned to play a pivotal role in reshaping the future of AI integration in clinical workflows, making radiologists’ work more efficient and addressing the growing demand for innovative radiology solutions worldwide.