13 Dec KA Imaging wins $250k Investment for Placing 3rd in the Meet the Drapers show
The investment will allow KA Imaging to further grow and develop its technologies
Canadian company KA Imaging won the 3rd place and a $250k dollars investment after participating in season 5 of Meet the Drapers.
Meet the Drapers is a reality TV show that features some of Silicon Valley’s most renowned venture capitalists Tim, Bill, and Polly Draper. The show allows start-up businesses with innovative ideas to pitch their inventions to the Draper family with the goal of winning a $1 million investment.
“I am excited that Tim Draper is now an investor in KA Imaging. Tim is a seasoned investor and will provide insights and guidance as we grow into the next stage of company. Being on the show was a fantastic experience,” said Amol Karnick, President and CEO of KA Imaging, who represented KA at the show.
This season featured 35 different start-ups in various industries – all in which were competing for a $1 million investment from Tim Draper. KA Imaging was one of 4 Canadian companies that pitched its million-dollar idea. The show featured many innovative ideas but after a series of “playoffs,” KA Imaging fought to the finals, resulting in a third-place finish and a $250k investment.
KA Imaging’s President and CEO Amol Karnick confidently stepped up to the panel of judges to pitch Reveal™ 35C. The single exposure dual-energy flat panel detector leverages the company’s patented 𝘚𝘱𝘦𝘤𝘵𝘳𝘢𝘭𝐃𝐑™ technology. Previous approaches to dual energy imaging had drawbacks such as poor image quality (motion artifacts), high radiation dose (2 separate images deliver double the radiation), and high acquisition/implementation costs, ultimately preventing the mass adoption of dual energy. 𝘚𝘱𝘦𝘤𝘵𝘳𝘢𝘭𝐃𝐑™ completely hurdles these drawbacks. The single exposure capabilities allow for zero motion artifacts, low radiation dose, at no change to current X-ray sources or workflows. The detector’s retrofit design allows for a quick swap to allow users to instantly upgrade their clinic’s imaging capabilities. Reveal™ 35C has been clinically proven to enhance the visualization of pneumonias, calcified nodules, the detection of COVID-19, lung lesions, rib fractures, and more. In Reveal™ 35C, the energy separation takes place within the detector, meaning, you don’t need a fixed energy source. You can get high-quality X-ray images at the bedside, like in the ICU or the ER. The mobility capabilities are endless.
Starting the competition
The third episode of the season had only Canadian companies. Hundreds of companies applied to be part of Meet the Drapers, but only 4 were selected to participate in this episode – KA Imaging being one of them. President and CEO Amol Karnick pitched the innovative technology that the company developed – 𝘚𝘱𝘦𝘤𝘵𝘳𝘢𝘭𝐃𝐑™. Amol explained how the technology works, how it can improve clinical imaging sites, and how employing the Reveal™ 35C detector can increase the financial bottom line of a hospital by $3.5 million in the first 5 years. In addition, Amol sampled KA Imaging’s fun spirit and let loose salsa dancing!
The semi-finals brought Amol back in front of the judges where he re-pitched the technology. He explained that the detector, Reveal™ 35C, does not require hospitals to change their current workflow or systems – the detector is retrofittable! The separation of energies that allow for numerous images happens inside the detector allowing for full mobilization to the bedside or remote locations. The judges made note that the company received a grant from the Government of Ontario to build a mobile system, showing that there’s growing interest and encouragement for this technology to be employed to increase healthcare. Amol showed that the technology, innovative idea, and mindset are all present, the company is just in need of salespeople to push the product and increase awareness. This sounded very promising to the judges who decided to send KA Imaging to the finale!
Tim Draper and the rest of the panel of judges brought KA Imaging back to the show for the season finale! From the time between the last episode, KA Imaging received more grants from partners and investors which shows the rapidly growing interest to capitalize on this innovative X-ray technology. Amol backed the technology with the company’s affiliation with the University of Waterloo, 80 global patents, and newly acquired sales team. There was plenty of momentum building up from the first time the show saw Amol and KA Imaging – momentum that showed no signs of slowing down. These promising steps in the right direction were enough to have the judges name Amol and KA Imaging as Meet the Drapers Season 5’s third place winner and recipient of $250,000USD!