AI health startup, Cloudphysician, raised USD 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. Cloudphysician is a full-stack AI and operations company that partners with hospitals to manage patients in their ICU and Emergency departments.
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.
Quality of critical care has been a global challenge mostly because of high costs and increasing demand. The healthcare market in India also has a significant gap, particularly in ICU care, where the disparity between the number of patients and the availability of skilled doctors and beds has never been addressed.
Commenting on the raise, in a joint statement Co-founders Dhruv Joshi and Dileep Raman, said, “We are excited to partner with Peak XV Partners and continue our partnership with Elevar Equity as we create a new model of critical care at a global scale. Cloudphysician is a unique confluence of AI and human clinical expertise coming together to save lives. 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.”
Peak XV Managing Director Mohit Bhatnagar, commented on the investment, "Diseases with high severity in India such as cancer and heart disease are routinely cared for in Cloudphysician Smart-ICUs. Its digital Care Center platform is leveraging AI to empower ICUs across 200+ hospitals to provide super specialised and tailored care with 24/7 monitoring. As a result, hospitals have seen up to a 40% reduction in ICU mortality rates. Excited to join Dr. Dhruv and Dr. Dileep’s mission to save more lives. They are building an India-first business which has the opportunity to become the world’s first independent, scaled-up business in this space."
