Andrew Ng’s AI Fund backs Indian healthcare startup Jivi
The investment in Jivi marks AI Fund’s first move in India, as the country’s AI sector sees rapid growth, particularly in healthcare and financial services.
AI Fund, led by renowned computer scientist Andrew Ng, has made its first investment in India by backing Jivi, an AI healthcare startup based in Gurugram. Jivi uses AI to assist with diagnoses, treatment suggestions, generating health reports, and administrative tasks. The fund did not reveal the exact amount invested or the stake it acquired in the company.
India‘s AI industry is experiencing significant growth, projected to more than double in value to $22 billion by 2027. According to a report by Nasscom-BCG, the healthcare and financial services sectors are set to dominate the market, with products and startups accounting for a substantial share.
AI Fund has previously invested in notable platforms like Podcastle and Octagon AI. This latest move marks a continued expansion into sectors where AI is becoming increasingly vital for innovation and efficiency.
Andrew Ng, who heads AI Fund, brings vast experience from his leadership roles in AI projects at Google and Baidu. He joined Amazon‘s board earlier this year, further solidifying his influence in the AI and tech space.