Cloudphysician, an India-based health tech company providing online healthcare and patient monitoring technology solutions, has secured $10.5M to expand its operations and advance its AI-backed online platform.
Founded in 2017 by Dhruv Joshi and Dileep Raman, the startup’s latest funding round was led by Peak XV Partners, with significant support from Elevar Equity and Panthera Peak. This funding round follows a series A funding series in 2021 led by Elevar Equity, through which the company raised $4 million.
According to the company’s announcement last week, the new capital infusion will be vital in fuelling the company’s expansion strategies across India, venturing into the global market, and advancing its AI-powered healthcare platform.
Cloudphysician Managing ICUs for 230 Hospitals Across India
Cloudphysician partners with hospitals and healthcare facilities to leverage its AI-powered platform and operational technology to help manage patients admitted to intensive care units (ICUs) and other emergency departments.
Currently, the company manages more than 2,400 ICU beds in 230 hospitals spread across 100 Indian cities, with private hospitals making up about 90% of its customers.
According to Dhruv Joshi’s comments reported by The Economic Times, the company is looking to expand to at least 10% of the country’s 50,000 hospitals, allowing it a market share of about 5,000 hospitals under its management.
With the new funding, the company plans to expand its online healthcare platform operations to some of the largest international markets, including the United States, Southeast Asia, and the Middle East.