Logy ai[How this Health tech startup is growing in 2023]

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artificial intelligence, B2C, Deep tech, Dentistry, Health Tech, indian startups, services, Social Netwotk, Social Tech, Startups, startups in india May 30, 2023 0

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Logy Ai is a Dental Care startup  

What is Logy Ai?

Logy.ai is a digital health front-door platform that enables the first level of health checkups and easy access for providers. The startup is operating by enabling the care continuum journey. At the solution level, Logy.ai is an AI-powered digital screening platform that is utilized for population health screening, triaging, and care coordination.

All of this is done with the help of healthcare centers that can directly maintain the continuum of care with the patients. Globally, the solution that Logy.ai provides has impacted lakhs of lives.

The vision of the startup is “to start the care journey ideally from the home itself”

The mission of Logy.ai is “to enable a continuum of care in the healthcare ecosystem”.

Startup Logy.Ai
Website logy.ai
Founded 2019
Headquarters Hyderabad, India
Products AI-Powered Health Screening Platform
Revenue Model Subscription

How did it start in 2019?

Back in 2019, the startup started as a screening solution. During the pandemic when no one was able to go out, the founders realized that apart from WhatsApp and video calls, there is no proper screening platform for patients and doctors to interact with each other, even for the first level of screening.

The team at Logy.ai, being mostly from the medical background, witnessed that most patients reach the doctor’s door at a later stage whereas if detected at an early stage, unnecessary surgeries, money, and time can be avoided.

The solution that Logy.ai is providing differentiates high-risk or high-priority patients from low-risk or low-priority ones. This has been a major issue in the healthcare ecosystem that the startup is working towards.

Here is the quick Overview of Logy Ai

logy ai overview_

Growth rate

The growth rate for this Hyderabad-based startup is INR 10 lakhs per month and they are growing at a rate of 30% on a quarter-on-quarter basis.

Market Penetration

There were a couple of obstacles when Logy.ai began its journey. One of their clients, Space Sight presented them with the objective of screening more than 25,000 people in 2 months, and Logy.ai was successfully able to steer through it. But when this was shown to potential healthcare enterprises, due to new technology, there were trust issues that prevented collaborations

Read Also:How DentalDost is helping Dental Industry with its unique Technology.

Apart from that, the ground people who actually perform the screening need appropriate training which needs some time, making the process of adoption a bit slow.

Area of Operations

This AI-based startup is currently incubated in IIIT Hyderabad and has its head office located in the same city. The client base for the startup is across PAN India.

Team

The startup commenced with 3 people and as the operations and work expanded, the team has today grown to a strength of 22 people.

Targeted Market

The target market for the startup consists of hospitals, clinics, pharmaceutical companies, and insurance companies. One of the clients for Logy.ai is also a Fortune 500 company.

Revenue Model

The revenue model for this healthcare startup is subscription based. Also, it is slab based, i.e. it charges customers on the basis of the number of screenings performed.

Competition

There is always a chance of another player copying the idea of any startup and being better at it. So competition can always be there. There are a couple of companies that are doing the same thing in the B2B space as Logy.ai so there is direct competition in the market. But Logy.ai stands out from its competitors in the AI technology that is brought in and also the fact that it is patented.

Expansion Plans

This Hyderabad-based startup aims to go beyond the three areas of operation, that is oral, diabetes, and eye, that it is currently working towards. Currently, R&D is going on for multiple projects.

Read Also:How does startup Mentza raised US$ 400K

The idea is to get more and more doctors involved with the platform and a defined digital communication platform system can be developed and preventive care can become mainstream in the healthcare ecosystem.

SWOT Analysis

The strength is the team and the knowledge that they are bringing.

The weakness is changing the conventional mindset of the people and gaining trust in the technology.

logy ai swot analysis

The opportunity is immense as the market is huge and unexplored for preventive healthcare and bringing a different technology along with the ones currently being utilized like CRM and Kiosks can be substantial. This is a great time to bring something like Logy.ai given the digital healthcare revolution slowly taking pace.

The threat is cybersecurity threats, though now the platform is compliant with that now Potential competition is also a threat.

Logy Ai Funding

Initially, the Logy Ai was bootstrapped. Over time, they have received multiple funding. Recently they raised $100k USD in both diluted and non-diluted formats. TIDES Incubation Center at IIT Roorkee has been an investor as well.

Rewards & Recognition

Awarded in the DST India Innovation Growth program and also awarded by the University of Westminster.

Awarded for the last 2 years by the NASSCOM AI initiative.

Logy Ai Founders

Dr.Nivedita Tiwari is the Founding Member and Director of Clinical Operations

Priyanjit Ghosh is the CEO and has completed his PGDM from IIM Raipur.

Anand Panchbhai is the co-founder and executive director and has completed his graduation from IIT Bhilai.

Vinay Khobragade is the co-founder and board member at Logy.ai.

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