- AI health startup Cloudphysician has raised $10.5 million in a funding round led by Peak XV Partners
- The funding will help the startup in entering the U.S., Middle East, and Southeast Asia markets.
- Additionally, it plans to expand its AI platform, Radar, to assist doctors and nurses effectively.
Bengaluru-based health startup Cloudphysician has raised $10.5 million in a funding round led by Peak XV Partners. Elevar Equity and venture debt firm Panthera Peak also participated in the round.
Founded in 2017 by Dhruv Joshi and Dileep Raman, Cloudphysician is a full-stack artificial intelligence (AI) and operations company that provides its users with online healthcare services and it also partners with hospitals to handle patients in their intensive care units (ICUs) and emergency departments.
The startup aims to utilize the funding to enter the international market in the United States, the Middle East, and Southeast Asia regions. Additionally, it seeks to strengthen its presence in India and develop its AI platform.
“We want to further build our AI platform, Radar, and enhance its capabilities as a co-pilot for care for doctors and nurses,”said Dhruv Joshi, Co-founder and CEO of Cloudphysician.
Commenting on the funding, Mohit Bhatnagar, managing director at Peak XV, noted that their digital Care Centre platform uses AI to enhance ICUs in over 200 hospitals, offering specialized care and constant monitoring. And as a result, hospitals have seen up to a 40% reduction in ICU mortality rates.
Previously this month, OrbitShift raised $7 million in seed funding, led by Peak XV Partners’ Surge and Stellaris Venture Partners. Along with this, Bengaluru-based engineering hardware startup Ethereal Machines has secured $13 million in Series A funding from Peak XV Partners and Steadview Capital.
Not to mention, the Hurun India Future Unicorn Index recently stated that Peak XV remains the leading investor in India in 2024.
Edited by Harshajit Sarmah
