In its first ever funding initiative in the country, computer scientist and AI pioneer Andrew Ng's AI Fund has invested in an Indian AI healthcare startup named Jivi, the US-based company announced on Tuesday. However, AI Fund is yet to release more details about its latest investment.
Being powered by an AI supported healthcare system, the Gurugram-based startup co-founded by former BharatPe chief product officer Ankur Jain and Chairman of Reddy Ventures G V Sanjay Reddy, has proved to be highly beneficial for both patients and doctors, AI Fund said in a statement adding that they are happy to be part of Jivi's initiative.
"AI is transforming healthcare, and Jivi takes an important step toward more equitable, precise, and personalized care. Ankur and team are at the forefront of this transformation and are developing accessible and intelligent tools. AI Fund is excited to advance this vision together with Jivi," said AI Fund's founder Ng.
By using artificial intelligence for diagnosis, treatment and preventive care of different medical conditions, the AI healthcare company established in 2024, helps patients with personalized health reports, answers any personal queries related to their health and thus reduces workload of doctors, allowing them to help more patients.
"Our mission is to make healthcare more efficient, affordable, and accessible to everyone, regardless of location. Growing up in a family of doctors, I've seen first hand how timely and accurate medical care can save lives,"Jivi's CEO Jain said.
"With the expertise and vision of Dr. Andrew Ng, we are confident that Jivi will play a transformative role in shaping the future of global healthcare, ensuring that high-quality care is a right, not a privilege," he added later.
Jivi's Large Language Model (LLM) Jivi MedX recently was ranked first on the Open Medical LLM Leaderboard hosted by Hugging Face. Interestingly, it outperformed global AI leaders like Google (Med-PaLM 2) and OpenAI (GPT-4).
The latest move comes at a time when the Artificial Intelligence market is growing fast in India. According to a Nasscom-BCG report, India's AI market will reach $22 billion by 2027.
Apart from Jivi, AI Fund founded in 2017 with acapital of $176 million, has also invested on Podcastle, and Octagon AI, a leading AI investment-analyst platform, according to Reuters.
Artificial Intelligence plays a huge role in Indian healthcare industry. There are about 741 AI based healthcare startups in India, according to an online report from Tracxn.
The website ranked Bangaluru-based Cureskin, Mumbai's Citius Tech and Delhi's Zyla Health as the top three AI healthcare startups in India.
