Cloudphysician raises $10.5 million in funding round led by Peak XV Partners

Cloudphysician, an online healthcare and technology solutions provider, has raised $10.5 million (about Rs 87.7 crore) in a funding round led by Peak XV Partners.

The round also saw participation from Elevar Equity and venture debt firm Panthera Peak.

The funds will be used for expanding the company’s presence in India, entering international markets and further developing its artificial intelligence (AI) platform.


Founded in 2017 by Dhruv Joshi and Dileep Raman, the health startup is a full-stack AI and operations company that partners with hospitals to handle patients in their intensive care units (ICUs) and emergency departments.

“The Indian market itself has over 50,000 hospitals, and our goal is to capture 10% of this market in India," Joshi told ET, adding that the United States, Middle East and Southeast Asia are some of the regions where the company plans to expand overseas.

“We want to further build our AI platform, Radar, and enhance its capabilities as a co-pilot for care for doctors and nurses,” he said.

The startup currently manages about 2,400 ICU beds across 230 hospitals, spanning about 100 cities in India. “More than 90% of our business is from private hospitals,” said Joshi.

Commenting on the investment, Mohit Bhatnagar, managing director at Peak XV, said, “Its digital Care Centre platform is leveraging AI to empower ICUs across 200-plus hospitals to provide super specialised and tailored care with 24/7 monitoring. As a result, hospitals have seen up to a 40% reduction in ICU mortality rates.”

Cloudphysician last raised $4 million in Series A Funding from Elevar Equity in 2021.

On June 18, ET reported that health tech startup Alyve Health raised $5.5 million in a funding round led by Axilor Ventures, with participation from existing investor 1Crowd Fund as well as healthcare-focused fund Inhealth Ventures.