Artificial Intelligence-based healthtech startup WISEYAK announced that it has secured funding of a quarter-million US dollars from Nepalese alternative investment firm Team Ventures.
WISEYAK has developed an Artificial Intelligence (AI) and Machine Learning (ML) technology-based platform that offers unique solutions to Clinical Decision Support across the healthcare industry in a unified platform. This technology is applicable to hospitals, doctors, healthcare workers, research organizations, pharmaceuticals, government, and non-governmental organizations as well as international organizations.
Using cutting-edge technologies like AI and ML, WISEYAK envisions establishing itself as an AI-based global healthtech company offering innovative healthcare applications to the global marketplace.
WISEYAK was co-founded by Dr. Suresh Manandhar, who currently serves as the CEO as well as the Chief Scientist and brings 35 years of global experience in Machine Learning/Artificial Intelligence, specializing in Natural Language Processing and Medical Image Processing. Dr. Manandhar was formerly the head of the Artificial Intelligence Research Group at the University of York, United Kingdom.
“WISEYAK will use this new funding to acquire the best talent for the company and make its current AI-based platform WISEMD more robust and flexible to integrate with other innovative healthcare solutions,” says Dr. Hemanta Shrestha, the COO, and Co-Founder of WISEYAK.
Globally, AI technology is projected to make a massive impact in the healthcare industry throughout the value chain. AI in the healthcare market was valued at $8.23 billion in 2020 and is estimated to reach $194.14 billion by 2030, growing at a CAGR of 38.1% from 2021 to 2030.
The provided growth rate is notably faster than projected rates for other industries, including manufacturing, financial services, media, and entertainment. With an increase in global patient volume, shrinking operational workforce, as well as technological advancement, the health care intelligence market is at the forefront of a great expansion.
AI allows organizations to make better decisions, improving core business processes by increasing both the speed and accuracy of strategic decision-making processes.
WISEYAK’s AI-based healthcare platform is well-positioned to create a holistic impact, as it offers various integrated solutions across the healthcare domain in fields such as Standards Compliant Interoperable Data Collection, Clinical Diagnostics, Patient Data Management, Patient Engagement, Remote Consultation, Population Health, and Healthcare Research.
“This funding from Team Ventures will help propel the development of the WISEYAK platform and position the company for its global launch. Team Ventures is incredibly excited to be a part of WISEYAK that not only has tremendous growth prospects but also has the potential of making healthcare more affordable, accessible, transparent, and efficient for all. Investment in WISEYAK is our testament to support innovative and world-class tech-based solutions founded and led by experienced and passionate entrepreneurs.” says Tenzin Sonam Gonsar, the CEO of Team Ventures.
Team Ventures is an alternative investment firm based in Kathmandu, Nepal, and uses a sector-agnostic approach to identify, build, and grow great companies by providing them access to capital, network, and knowledge.