Cloudphysician raises $10.5 million in funding round led by Peak XV Partners
Cloudphysician, an online healthcare and technology solutions provider, has raised $10.5 million (about Rs 87.7 crore) in a funding round led by Peak XV Partners.
The round also saw participation from Elevar Equity and venture debt firm Panthera Peak.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitThe funds will be used for expanding the company’s presence in India, entering international markets and further developing its artificial intelligence (AI) platform.
Founded in 2017 by Dhruv Joshi and Dileep Raman, the health startup is a full-stack AI and operations company that partners with hospitals to handle patients in their intensive care units (ICUs) and emergency departments.
“The Indian market itself has over 50,000 hospitals, and our goal is to capture 10% of this market in India," Joshi told ET, adding that the United States, Middle East and Southeast Asia are some of the regions where the company plans to expand overseas.
“We want to further build our AI platform, Radar, and enhance its capabilities as a co-pilot for care for doctors and nurses,” he said.
The startup currently manages about 2,400 ICU beds across 230 hospitals, spanning about 100 cities in India. “More than 90% of our business is from private hospitals,” said Joshi.
Commenting on the investment, Mohit Bhatnagar, managing
