Cloudphysician, a provider of ICU technology solutions in India, has scored $10.5 million in a funding round led by Peak XV Partners.
The round was also joined by Panthera Peak and Elevar Equity – from which it also raised $4 million in Series A funding in 2021.
WHAT IT DOES
Established in 2017, the startup offers a smart ICU and emergency department system called RADAR.
It features four AI-powered assistants for clinical documentation: the note-writing assistant AIRA, HERA for automated document transcription, the computer vision tool NETRA, and SWARA, a voice-to-text dictation tool.
RADAR has a web and mobile-based collaboration platform for bedside and remote ICU teams; it enables push notifications, secure chat, video conferencing, and high-definition video feed. It also integrates protocols and workflows for coordinated care.
The system also includes dashboards and analytical tools for benchmarking care metrics, ensuring compliance, and supporting research.
WHAT IT’S FOR
The startup reportedly plans to use its fresh funds for market expansion locally and globally. It is looking to enter markets in the United States, the Middle East, and Southeast Asia.
Currently, Cloudphysician is adopted in about 230 hospitals in India, 90% of which are private. It targets to capture about a tenth of over 50,000 hospitals in the country.
The company also intends to use its new funds to enhance its AI co-pilot features.
MARKET SNAPSHOT
Automation and remote patient monitoring solutions have proliferated across India in recent years to help alleviate crowding in emergency departments while addressing fatigue and workforce shortages.
Private healthcare provider Medanta, for example, launched its e-ICU Command Centre, powered by GE HealthCare, to provide 24/7 consultation, care, and near real-time monitoring of critically ill patients.
Healthnet Global, an Apollo Hospitals subsidiary, developed the AutoMaid smart in-patient room automation system that enables remote patient monitoring and features AI for vitals triaging.
Medical device company Dozee has been actively promoting its AI solution that transforms hospital beds into connected beds for continuous patient monitoring. It consists of a thin sensor sheet placed under a mattress and the bedside Dozee communication pod.
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