Cloudphysician, an Indian provider of ICU technology solutions, has raised $10.5 million in a funding round led by Peak XV Partners.
Panthera Peak and Elevar Equity also participated in the round, and the company raised $4 million in Series A funding in 2021.
What it does
Founded in 2017, the startup offers a smart ICU and emergency department system called RADAR.
It has four AI-powered assistants for clinical documentation: note-taking assistant AIRA, HERA for automatic document transcription, computer vision tool NETRA and speech-to-text dictation tool SWARA.
RADAR has a web- and mobile-based collaboration platform for bedside and remote ICU teams that enables push notifications, secure chat, video conferencing, high-definition video feeds, and integrates protocols and workflows for coordinated care.
The system also includes dashboards and analytical tools to benchmark care metrics, ensure compliance and support research.
What is it for?
The startup reportedly plans to use the new capital to expand in both domestic and international markets. It is targeting markets in the US, Middle East and Southeast Asia.
Currently, Cloudphysician is being used in about 230 hospitals in India, 90% of which are private hospitals, and the company aims to introduce it to about one-tenth of the more than 50,000 hospitals in the country.
The company also plans to use the new funding to enhance its AI co-pilot features.
Market Snapshot
In recent years, there has been a surge in automated and remote patient monitoring solutions across India to ease congestion in emergency departments as well as address fatigue and manpower shortages.
For example, private healthcare provider Medanta has launched an e-ICU command centre powered by GE HealthCare technology to provide 24/7 consultation, care and near real-time monitoring for critically ill patients.
HealthNet Global, a subsidiary of Apollo Hospitals, has developed the AutoMaid smart admission room automation system that enables remote patient monitoring and is powered by AI for vital triage.
Medical device maker Dozee is aggressively promoting an AI solution that turns hospital beds into connected beds for continuous patient monitoring, which consists of a thin sensor sheet that goes under the mattress and a bedside Dozee communication pod.
