Andrew Ng-led AI Fund has made its first investment in India, backing the AI-powered healthcare startup Jivi. The announcement was made on Tuesday, marking the fund’s entrance into India’s burgeoning artificial intelligence sector. Jivi, headquartered in Gurugram, northern India, focuses on leveraging AI to support healthcare services. The company’s AI technology assists in suggesting potential diagnoses, generating health reports, and handling administrative tasks, according to the fund’s statement.
India’s AI sector is on a growth trajectory, with projections indicating that it will more than double in size, reaching up to $22 billion by 2027, according to a Nasscom-BCG report published earlier this year. The products and startups segment, to which Jivi belongs, is expected to account for 15-17% of the total AI market share, alongside financial services, reflecting strong growth potential.
Though AI Fund did not disclose the amount it invested or the equity stake acquired in Jivi, this investment reflects its broader strategy of supporting AI-driven solutions across various industries. AI Fund, which has backing from Sequoia Capital and Softbank Group, has previously invested in companies like Podcastle, a platform for podcast production, and Octagon AI, an investment-research tool.
Ng, who serves as managing general partner at AI Fund, recently joined Amazon’s board in April. His prior roles include leading artificial intelligence initiatives at both Alphabet’s Google and the Chinese search engine Baidu before departing from both companies.
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