The AI Fund, which is managed by computer scientist Andrew Ng, announced on Tuesday that it has made its first investment in an Indian artificial intelligence healthcare company, Jivi.
According to a Nasscom-BCG analysis earlier this year, India’s rapidly expanding AI market is predicted to more than double to reach $22 billion by 2027. It is anticipated that the products and startups sector will hold a 15–17% market share, sharing the largest share with financial services.
According to a statement from the fund, Jivi, which is situated in the northern Indian city of Gurugram, utilizes AI to provide health reports, recommend possible diagnoses and treatments, and carry out administrative duties.
The amount of money the fund invested or purchased in the startup was not disclosed.
Supported by Softbank Group and Sequoia Capital, AI Fund has also made investments in Octagon AI, an application for financial research, and Podcastle, a platform for podcast production.
In April, Ng, the managing general partner at AI Fund, became a board member of Amazon. Before leaving both Baidu, the Chinese internet search engine, and Alphabet’s Google, he oversaw AI programs at both companies.
