Cloudphysician, an AI health business, announced on Tuesday that it has raised $10.5 million in a Series A fundraising round led by Peak XV Partners, with Elevar Equity and venture debt firm Panthera Peak also participating.
The additional funding will go to advance the business’s operations and growth within India as well as its expansion into a number of established and new regions, including the US.
Additionally, the money will be used, according to the company, to develop the co-pilot aspects of its cutting-edge AI platform, RADAR, through data analysis.
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Co-founders Dr Dhruv Joshi, and Dr Dileep Raman talked about future plan for the firm. They, in an statement, said, “”We aim to scale our business and continue transforming critical care delivery in India and global markets. We remain committed to our vision of leveraging AI and advanced technology to ensure high-quality care is accessible to all, regardless of location.”
Cloudphysician is a full stack AI and operation company. It collaborates with hospitals to look manage patients in Emergency department and ICUs.
Mohit Bhatnagar, Managing Director at peak XV appreciated the initiative by Dhruv and Dileep. Calling it potential first in world, Bhatnagar said, “”They are building an India-first business which has the opportunity to become the world’s first independent, scaled-up business in this space.”
Dileep and Dhruv founded Cloudphysician in 2017. Currently it catering over 1 lakh patients across 23 states in partnership with over 200 hospitals.
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