Saturday, 22 July 2017

Norwest invests into healthcare startups

09 June 2017 | News

The investment was done with an intent to merge both the B2B ventures, and is likely to take place over the next 12-18 months.

Hyderabad-based healthtech startup Multiplier Solutions has raised $1.5 Mn from Norwest Venture Partners. Apart from this, Norwest has also invested $1.5 Mn in Bengaluru-based ABI Health.

The investment was done with an intent to merge both the B2B ventures, and is likely to take place over the next 12-18 months.

Multiplier Solutions was founded in 2013 by Vikram Kumar and Saumya Prakash. It works with hospitals diagnostics chains, clinics. It offers a product platform to integrate artificial intelligence and machine learning for improved diagnostics as well as predicting clinical outcomes. The company has about 50 employees. It earns revenue through a subscription-based model.

On the other hand, Bengaluru-based ABI Health was founded in 2013. It is an image management cloud software provider. It operates in the US and in Peru. The startup claims to have its imaging suite, called Spectra, which connects all stakeholders including doctors, hospitals, and patients. The healthtech platform works on a SaaS-based revenue model and also works with consumer devices manufacturers and a telecom operator that have healthcare services on the cloud, as part of their data rollout.

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