Cloudphysician Secures $10.5 Mn Series A Funding to Expand AI-Driven Critical Care Services

With the latest funding round, Cloudphysician aims to capture 10% of the Indian critical care market and strengthen its global presence.

Healthtech startup Cloudphysician has raised $10.5 million (INR 87.3 Cr) in its Series A funding round, led by Peak XV Partners. The round saw additional participation from existing investor Elevar Equity and venture debt firm Panthera Peak.

The newly acquired funds will be used to fuel the startup's growth in India, enhance its AI platform, and support its expansion into new markets, including the United States.

Cloudphysician, cofounded in 2017 by doctors Dhruv Joshi and Dileep Raman, aims to transform critical care by partnering with hospitals to digitize operations and provide AI-supported healthcare professionals.

The Series A funding will significantly bolster the startup's capacity to expand operations and improve its AI platform, RADAR. The funding will also be utilized to refine the startup's technological infrastructure.

"We are committed to scaling our business and transforming critical care delivery both in India and globally. Our vision is to leverage AI and advanced technology to ensure high-quality care is accessible to all, regardless of location," said cofounders Joshi and Raman in a statement.

Cloudphysician’s Offerings

Cloudphysician's flagship service, the 'Smart-ICU,' provides hospitals with continuous access to specialist doctors, improved nursing quality, standardized care protocols, and staff training.

This service has already enabled the startup to collaborate with over 200 hospitals across 23 states in India and has served approximately 100,000 patients since its inception. The startup claims that its solutions have led to a 50% increase in ICU utilization for partner hospitals.

With the latest round of funding, Cloudphysician aims to capture a 10% share of the Indian critical care market soon while also strengthening its global presence.

The startup also plans to extend its services to other emerging markets and developed regions, including the US

Commenting on the fundraiser, Peak XV Partners' MD Mohit Bhatnagar expressed his enthusiasm for the venture, stating, "We are excited to join Dr. Dhruv and Dr. Dileep's mission to save more lives. They are building an India-first business with the potential to become a globally scaled independent entity in this sector."

Cloudphysician has attracted significant attention and support from investors and industry stakeholders. In 2023, the startup was incubated by the Google for Startups Accelerator: India program, which helped it gain momentum in the competitive healthtech landscape.

In 2021, it raised $4 million in a Pre-Series A round led by Elevar Equity, further cementing its position in the market.

With the latest investment, Cloudphysician joins the ranks of Peak XV Partners' growing healthtech portfolio, which includes companies such as Mosaic Wellness, Twin Health, Qure.ai, and Practo.