AI Fund Makes First Indian Investment in Healthcare Startup Jivi

AI Fund Makes First Investment in India, Backs Healthcare Startup Jivi

AI Fund, led by computer scientist Andrew Ng, has made its first investment in India by backing Gurugram-based artificial intelligence (AI) healthcare startup Jivi. The amount of the investment was not disclosed, according to a Reuters report. Also Read: Google and Vodafone Expand Partnership to Bring AI-Powered Services Across Europe and Africa Jivi uses AI to assist in diagnosing conditions, suggesting treatments, generating health reports, and performing administrative tasks, the fund said in a statement, according to the report. This move comes as India's AI sector is expected to grow to over USD 22 billion by 2027, according to a Nasscom-BCG report released earlier this year. Within this growth, AI-based products and startups are expected to play a significant role, potentially accounting for 15-17 percent of the market. Backed by Sequoia Capital and SoftBank Group, AI Fund has also invested in the podcast-production platform Podcastle and the investment-research application Octagon AI. Reportedly, Andrew Ng, managing general partner at AI Fund, who previously led AI projects at Google and Baidu, joined Amazon's board in April. Also Read: AI to Transform Global Economy with Growth and Innovation, Says UBS: Report On October 5, Jivi AI Co-Founder and CEO Ankur Jain announced the introduction of Jivi-RadX-v1, Jivi's latest vision-based LLM model. "Built to assist radiologists in making faster, more accurate decisions, Jivi-RadX dives deep into complex image data, delivering sharper insights like never before," Ankur said in a LinkedIn post. "Jivi-RadX is one of the top-performing models, scoring an impressive 75 percent and surpassing OpenAI's GPT-4 as well as other state-of-the-art models like Microsoft's Llava-Med and Stanford's ChexAgent-8b," he added.

Andrew Ng's AI Fund Makes First Investment in India, Backs Healthcare Startup Jivi

In an exclusive interaction with AIM, the company revealed that the company plans to launch a series of models focussed on healthcare in the coming months. Andrew Ng's AI Fund has announced its first investment in India, backing Gurugram-based AI healthcare startup Jivi. The AI-focused venture capital fund, known for its investments in tech-driven startups, has chosen Jivi as its entry point into India's rapidly growing AI market. Jivi, an AI-powered platform, assists healthcare providers by suggesting potential diagnoses, generating health reports, and performing various administrative tasks, according to the fund's statement. While the exact amount invested in the startup or the stake purchased was not disclosed, the move underscores AI Fund's commitment to expanding its portfolio in the healthcare domain. Ankur Jain, the former chief product officer of BharatPe, left the fintech giant last year to pursue ventures in AI and healthcare. Alongside G V Sanjay Reddy, chairman of Reddy Ventures, he co-founded Jivi.ai, marking Jain's second entrepreneurial endeavor. With a strong background in AI and machine learning, Jain founded Jivi in January 2024. Just months after its inception, the startup announced its first model, Jivi MedX, which outperformed popular models like Google's Med-PaLM 2 and OpenAI's GPT-4 on the Open Medical LLM Leaderboard. In an exclusive interaction with AIM, Jain revealed that the company plans to launch a series of models focussed on healthcare in the coming months. "While Jivi MedX is a text model, we are working on a series of other models that we internally call a model cluster. For example, there could be a different model that specialises in diabetes, and for ophthalmology, there will be a different model. "The next model from Jivi will be a vision model. We are working on a multimodal MedX," Jain said. The vision Jain has with his new startup is to build an AI medical companion that the eight billion-strong population in the world can use for free. AI is finding use cases in other domains of healthcare such as drug discovery and genoming. India's artificial intelligence sector is projected to more than double by 2027, reaching up to $22 billion, according to a Nasscom-BCG report. The report highlighted that the products and startups category, which Jivi is a part of, is expected to account for up to 17% of the total AI market, alongside financial services. AI Fund, which has previously invested in companies such as podcast-production platform Podcastle and investment-research application Octagon AI, is backed by prominent investors including Sequoia Capital and Softbank Group. Ng, a computer scientist and the managing general partner at AI Fund, has an extensive background in AI development, having led projects at Alphabet's Google and Baidu. Earlier this year, he also joined the board of Amazon. The healthcare sector in India has increasingly turned to AI to enhance medical diagnostics, streamline administrative processes, and optimise patient care. Jivi's use of AI reflects these trends, providing healthcare providers with technology-driven solutions for more accurate diagnoses and more efficient workflows.

Andrew Ng's fund makes first India investment with AI healthcare firm Jivi

(Reuters) - Computer scientist Andrew Ng-led AI Fund said on Tuesday it has invested in an Indian artificial intelligence healthcare firm named Jivi, the fund's first such investment in the country. India's booming AI segment is expected to grow more than double to up to $22 billion by 2027, according to a Nasscom-BCG report released earlier this year. The products and startups category is expected to account for 15-17% of the market, tying for the highest share along with financial services. Jivi, based out of the northern Indian city of Gurugram, uses AI to suggest potential diagnoses and treatments, generate health reports and perform administrative tasks, the fund said in a statement. The fund did not specify how much it invested in the startup or how much stake it bought. Backed by Sequoia Capital and Softbank Group, AI Fund has also invested in podcast-production platform Podcastle and investment-research application Octagon AI. Ng, managing general partner at AI Fund, joined Amazon's board in April. Previously, he led AI projects at Alphabet's Google and Chinese internet search engine Baidu before resigning from both. (Reporting by Varun Hebbalalu in Bengaluru; Editing by Janane Venkatraman)

Andrew Ng's fund makes first India investment with AI healthcare firm Jivi

Oct 8 (Reuters) - Computer scientist Andrew Ng-led AI Fund said on Tuesday it has invested in an Indian artificial intelligence healthcare firm named Jivi, the fund's first such investment in the country. India's booming AI segment is expected to grow, opens new tab more than double to up to $22 billion by 2027, according to a Nasscom-BCG report released earlier this year. The products and startups category is expected to account for 15-17% of the market, tying for the highest share along with financial services. Advertisement · Scroll to continue Jivi, based out of the northern Indian city of Gurugram, uses AI to suggest potential diagnoses and treatments, generate health reports and perform administrative tasks, the fund said in a statement. The fund did not specify how much it invested in the startup or how much stake it bought. Backed by Sequoia Capital and Softbank Group, AI Fund has also invested in podcast-production platform Podcastle and investment-research application Octagon AI. Advertisement · Scroll to continue Ng, managing general partner at AI Fund, joined Amazon's (AMZN.O), opens new tab board in April. Previously, he led AI projects at Alphabet's Google and Chinese internet search engine Baidu before resigning from both. Reporting by Varun Hebbalalu in Bengaluru; Editing by Janane Venkatraman Our Standards: The Thomson Reuters Trust Principles., opens new tab

AI Legend Andrew Ng's Fund Enters Indian Healthcare, Invests in Jivi

AI investment: Jivi leverages AI to offer possible diagnoses and treatments, prepare reports, and automate tasks Computer Scientist, Andrew Ng's AI Fund announced its first Indian investment in artificial intelligence healthcare firm Jivi on October 8, 2024. However, the amount invested has not been revealed yet. The Gurugram-based startup helps healthcare professionals by using AI to offer possible diagnoses and treatments. The company also leverages AI to prepare health reports and automate clerical work thereby, supporting medical professionals.

Andrew Ng's Fund Makes First India Investment With AI Healthcare Firm Jivi

(Reuters) - Computer scientist Andrew Ng-led AI Fund said on Tuesday it has invested in an Indian artificial intelligence healthcare firm named Jivi, the fund's first such investment in the country. India's booming AI segment is expected to grow more than double to up to $22 billion by 2027, according to a Nasscom-BCG report released earlier this year. The products and startups category is expected to account for 15-17% of the market, tying for the highest share along with financial services. Jivi, based out of the northern Indian city of Gurugram, uses AI to suggest potential diagnoses and treatments, generate health reports and perform administrative tasks, the fund said in a statement. The fund did not specify how much it invested in the startup or how much stake it bought. Backed by Sequoia Capital and Softbank Group, AI Fund has also invested in podcast-production platform Podcastle and investment-research application Octagon AI. Ng, managing general partner at AI Fund, joined Amazon's board in April. Previously, he led AI projects at Alphabet's Google and Chinese internet search engine Baidu before resigning from both. (Reporting by Varun Hebbalalu in Bengaluru; Editing by Janane Venkatraman)

Andrew Ng's fund invests in AI healthcare platform Jivi

AI Fund, a venture studio led by Andrew Ng, has invested in Jivi, an AI healthcare platform. The investment will help Jivi develop AI products like a health assistant for consumers and a copilot for doctors. The platform is currently in beta testing and is expected to be available for public use later this year.Marking its first significant investment in India, AI Fund, a California-based venture studio led by computer scientist and artificial intelligence research pioneer Andrew Ng, has invested in AI healthcare platform Jivi. The fund will come on board as a cofounder of the Gurgaon-headquartered startup alongside Ankur Jain, former chief product officer at BharatPe, and GV Sanjay Reddy, chairperson of Reddy Ventures. The investment was concluded last week, for an undisclosed amount, Jain and Reddy told ET. They did not share the amount AI Fund has invested and the stake it acquired. People aware of the development said Ng's fund has acquired a 20-30% stake in the company founded in January this year. "AI is transforming healthcare, and Jivi takes an important step toward more equitable, precise, and personalised care," said Andrew Ng, managing general partner at AI Fund. "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." Speaking to ET in August, Ng had said, "We seem to be fortunate to come across a lot of exciting opportunities to build valuable AI projects." He had further said India has a significant opportunity to build AI solutions to solve problems in particular sectors. "The biggest opportunity for India is to look at the sectors where the Indian economy is already strong and figure out the applications of AI to those sectors that enable it to maintain its advantages," he had said. Jivi's AI products include a health assistant for consumers, which will make healthcare more accessible, and a copilot for doctors that will help ease the burden on the healthcare system, said Jain, chief executive of Jivi. Reddy added that the aim is to keep the core of Jivi's offerings available for free to the public, and that additional features will be developed to eventually help monetise the products. The multilingual and multimodal conversational platform is currently in beta testing with some of the world's leading hospitals and is expected to be available for public use later this year, the company said. It combines AI-powered diagnostics with validation from doctors, guiding patients through diagnosis, treatment, and preventive care journeys by providing personalised insights leveraging an advanced agentic architecture. It applies to over 20 healthcare specialties. It provides patients with instant, reliable and accurate answers to their health-related questions and creates personalised health reports that include symptoms, potential diseases, and treatment options, the company said. "Our mission is to make healthcare more efficient, affordable, and accessible to everyone, regardless of location," Jain said. He said the expertise and vision of Ng will contribute to Jivi playing a transformative role in shaping the future of global healthcare and ensuring that high-quality care is a right rather than a privilege. The platform is built on an over 15-million-document knowledge base, Jain said, making it probably the largest in the space. It includes medical journals and years of research. For doctors, Jivi helps analyse patient health data and simplifies workflows, reducing the time they spent on administrative tasks, so they can focus more on preparing for consultations, the company said. It added that in addressing the global healthcare access gap, Jivi is designed to serve diverse populations -- whether in remote rural communities or in state-of-the-art urban hospitals. Further, its focus is on scalability and adaptability to further its core mission of making healthcare more equitable, efficient, and universally accessible. In the context of India's large tech talent pool, Ng had told ET it would be worthwhile for some to work on training foundation models in local languages but added that this was a capital-intensive task. "I think that a much larger fraction of India's value to be created and captured would be in building applications on top of these wonderful foundation models," he had said.

Andrew Ng's AI Fund Marks Maiden India Bet With AI Healthcare Startup Jivi

Computer scientist and artificial intelligence research pioneer Andrew Ng, has marked its maiden bet in India by backing healthcare startup Jivi AI Founded in 2023, Jivi AI combines AI-powered diagnostics with human validation from leading doctors, guiding patients through the journey of diagnosis, treatment, and preventive care The startup creates personalised health reports that include symptoms, potential diseases, and treatment options -- based on millions of medical journals and years of research