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100X.VC Team
Written by various collaborators within Team 100X.VC
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Jan 24, 2023
Topic

Introduction: 

The $250Bn cancer care market is seeing a rapid evolution of new treatment/drug options. The entire oncology market is moving towards a personalised health-delivery model. Healthcare data of patients are driving treatment options, clinical trial identifications, research for drug discovery, and value-based care to improve patient's survival and quality of life. This makes oncology real-world evidence  extremely valuable to all healthcare stakeholders in the fight against cancer.

Developing countries like India see 2Mn new cancer cases every year and this is doubling every 10 years. At this rate, we will see an enormous burden on the healthcare system. The situation only gets worse. Currently, biotechs and hospitals do not have access to timely and comprehensive clinical data for delivering personalised care. This happens because most of the doctor records are in free text, and paper records and patient experience are not captured. This unstructured data is difficult to use and gives no clinical insights.

Swasthya solves this by capturing the entire patient's journey. This includes both in-hospital medical records and patient experiences at home. Their insight engine is used to summarize unstructured data.

The doctor and the patients are the two stakeholders that touch all the data generated in this clinical journey. With Swasthya, patients track and share their symptoms, and reports with their doctor.  Our triaging algorithm prioritises these patients, enabling doctors to provide timely interventions. These interventions are now provided in under 4 hrs which usually took 3-4 days. This results in improved quality of life for the patient and incentivizes them to share more via Swasthya.

Swasthya uses deep-learning pipelines to extract and analyze clinical metrics from medial records.They generate tweet size patient journeys and cohort-level outcomes. Hospitals use them for making clinical decisions which increase patient engagement and improve survival rate.

   

Akshay Navalakha and Rahul Jeshnani, the two co-founders go way back as they were batchmates, roommates, and close friends at IIT Gandhinagar. Akshay went on to pursue his Master’s at Cornell University and AI/ML specialisation from Stanford,  post which he joined NVIDIA as a Design Engineer. Rahul has over a decade of experience in Oncology Analytics. He has developed deep domain expertise in the Oncology Pharma space during his stint as a Manager at ZS. 

When both of the two friends encountered personal issues and had to see an oncology specialist's assistant rather than the oncologist themselves, they transitioned from being friends to co-founders. It set an unsettling ambiguity in their heads. They knew this problem was much larger and an integral one to solve. They both resigned from their respective jobs and have been working on this since June 2021. 

Market Opportunity: 

Building from India, Swasthya AI intends to impact the $250 Bn Oncology market growing at 11.4% CAGR. Cancer prevalence in India is estimated to be 2.7M with 1.4M new cases in 2020. The APAC region (excluding China) with annual incidence of 5.3M. Real Incidence could be 1.5x to 2x higher. Avg. patient spends are estimated to grow from $1600 to $4000 by 2030. The Indian Oncology market is growing at 18% CAGR. 

100X.VC Thesis: 

The founders have built a platform to capture real time data for cancer and bring it all together which is a huge problem for hospitals, doctors and patients; connecting stakeholders and integrating disparate health data. Both founders have complementary skill sets and deep expertise in the field and have initial POCs with top cancer hospitals. The digital healthcare market in India is poised for an explosive growth with Ayushman Bharat Digital Mission dubbed UPI for healthcare. This gives Swasthya an early-mover advantage to capitalize on this opportunity and build a huge data story by structuring the unstructured data.

Conclusion: 

Swasthya team comes with a deep domain expertise in oncology. They have built a full-stack solution for cancer which captures the entire patient journey. They are on a mission to harness the power of data to bring personalized care to millions of cancer patients, helping them live better and longer lives disrupting a $250Bn dollar market.

 

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