AI health start-up Cloudphysician has raised $10.5 million in a Series A funding round led by Peak XV Partners, with participation from Elevar Equity and venture debt firm Panthera Peak.
The fresh capital infusion will be used to propel Cloudphysician’s growth and operations within India and expand into multiple emerging markets.
AI health start-up Cloudphysician has raised $10.5 million in a Series A funding round led by Peak XV Partners, with participation from Elevar Equity and venture debt firm Panthera Peak.
The fresh capital infusion will be used to propel Cloudphysician’s growth and operations within India and expand into multiple emerging markets and established markets, such as the US. Additionally, the funds will be used to further enhance its innovative AI platform, RADAR, to improve its co-pilot features using data.
Focusing on leveraging technology to solve this problem, Dr. Dhruv Joshi and Dr. Dileep Raman, both intensivists trained in the US, founded Cloudphysician in 2017 to ensure the delivery of high-quality critical care to all. Cloudphysician has now extended its partnership to over 200 hospitals across 23 states in the country, as per a company website.
Co-founders Dr. Dhruv Joshi and Dr. Dileep Raman 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.”
Mohit Bhatnagar, Managing Director at Peak XV, commented on the investment: "Diseases with high severity in India, such as cancer and heart disease, are routinely cared for in cloud-physician smart-ICUs. Its digital Care Center platform is leveraging AI to empower ICUs across 200+ hospitals to provide super-specialized and tailored care with 24/7 monitoring. As a result, hospitals have seen up to a 40% reduction in ICU mortality rates."
Focusing on enhancing its AI-augmented proprietary technology platform, RADAR, Cloudphysician aims to become the largest and fastest-growing full-stack virtual critical care network.
Cloudphysician aims to capture 10 per cent of this market in the coming years and, as a first mover, establish its global presence, as per a company statement. Cloudphysician is a full-stack AI and operations company that partners with hospitals to manage patients in their ICU and emergency departments.