Key Points
- Bioscan Research raised $1 million in seed funding led by Unicorn India Ventures
- Company’s CEREBO device detects brain injuries non-invasively using infrared light
- Startup targets 3x growth and international expansion over next 12 months
Bioscan Research, a Mumbai-based medical device startup, has raised $1 million in a seed funding round led by Unicorn India Ventures to expand its non-invasive brain injury detection technology.
The company will use the funds for market expansion, regulatory approvals in new geographies, product upgrades and intellectual property development, said a statement on Wednesday (22 July).
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Founded in 2017 by Anupam Lavania and Shilpa Malik, Bioscan Research develops CEREBO, a device that uses near-infrared spectroscopy — a technique that shines infrared light through the skull to measure blood oxygen levels and detect internal bleeding — combined with machine learning to identify traumatic brain injuries before symptoms become visible.
The device is designed to help medical teams identify intracranial haemorrhage in trauma patients during the critical early period when intervention is most effective, even when patients show no external symptoms.
“More than 50 million suffer from traumatic brain injury each year and 50 to 90 per cent of patients with mild traumatic brain injury go unidentified,” the company’s co-founders said. “With this current round, we will be able to upgrade our product and bridge the limitations of traditional tools.”
The startup reported fivefold revenue growth over the past 12 months and is targeting threefold growth over the next year.
Anil Joshi, managing partner, Unicorn India Ventures, said the firm invested because of the scale of unmet need in brain injury diagnosis.
By the numbers
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- $1 million
- seed funding raised
- 5x
- revenue growth in past 12 months
- 50 million
- traumatic brain injury cases annually worldwide
“The market is huge and the research is evident on how people are suffering from head injuries and brain trauma every year,” Joshi said. “Bioscan Research is making it possible to detect intracranial haemorrhage non-invasively.”
Unicorn India Ventures, founded in 2016, focuses on early-stage investments in deep technology sectors including semiconductors, space technology and medical diagnostics. The firm recently closed its third fund at ₹1,200 crore and launched a ₹1,000 crore fund in partnership with IIT Madras.
Bioscan Research holds ISO 13485:2016 certification for medical device quality management. The company plans to expand both within India and into international markets over the coming year.
Your Questions, Answered
What does Bioscan Research’s CEREBO device do?
CEREBO uses near-infrared spectroscopy and machine learning to detect intracranial bleeding and traumatic brain injuries non-invasively, helping medical teams identify injuries before symptoms become visible.
How much funding did Bioscan Research raise?
The company raised $1 million in a seed funding round led by Unicorn India Ventures. The funds will be used for market expansion, regulatory approvals and product development.
What is near-infrared spectroscopy in brain injury detection?
Near-infrared spectroscopy shines infrared light through the skull to measure blood oxygen levels and detect internal bleeding without invasive procedures, enabling early diagnosis during the critical treatment window.
What are Bioscan Research’s growth plans?
The company reported fivefold growth over the past year and targets threefold growth over the next 12 months, with plans to expand in India and international markets.