Zoho-backed start-up launches India's first locally-made MRI scanner
What's the story
VoxelGrids, a start-up backed by Zoho, has developed India's first homegrown Magnetic Resonance Imaging (MRI) scanner. The machine has been installed at the Chandrapur Cancer Care Foundation near Nagpur. This is the result of a 12-year-long journey led by founder Arjun Arunachalam and his team to create an MRI system in India, which is currently dependent on imports for such machines.
Tech innovation
VoxelGrids's MRI scanner: A technological advancement
The new MRI scanner from VoxelGrids, with a Magnetic Field Strength of 1.5 tesla, isn't just an Indian version of machines from global giants like Siemens or GE HealthCare. It comes with its own technological advancements as well. Arunachalam said that these scanners are around 40% cheaper to build than conventional ones because they don't require liquid helium.
Operational benefits
Enhanced power efficiency and cost reduction
Arunachalam also highlighted that their MRI scanners have a well-packaged electronics system around the magnet, making it extremely power efficient. This drastically reduces operating costs. The company also provides pay-per-use models, letting hospitals pay for these machines over time. This is especially beneficial for smaller hospitals that can't afford the high one-time cost of an MRI scanner.
Expansion strategy
VoxelGrids's production capacity and future plans
Despite not having a full commercial launch yet, VoxelGrids can already produce 20-25 such scanners per year at its Bengaluru facility. Arunachalam said they've received a lot of interest from hospitals and expect to launch commercially by the end of this fiscal year. The company had raised $5 million from Zoho and will look for a bigger round as it nears volume production.
Market outlook
VoxelGrids's vision for the future
VoxelGrids is also working on improving their MRI machines, including a containerized mobile version. While the current focus is on domestic demand, Arunachalam didn't rule out an export market in the long run. This move could change India's MRI market, which is largely dominated by big global brands like Siemens and GE.