The leading AI-powered healthcare solutions provider Healthtech Startup HiLabs, has announced the successful closure of USD 39 Million Series B financing round. The investment was led by Eight Roads Ventures and Denali Growth Partners, with participation from F-Prime Capital. The Capital Infusion is earmarked to bolster HiLabs’ technological capabilities, recruit top-tier talent and expand its product teams.
Empowering Healthcare Decision-Making with AI
Amit Garg, the Co-founder and CEO of HiLabs has expressed his strong enthusiasm about the company’s trajectory, stating, “We stand poised to propel our AI technology forward, empowering healthcare organizations to make swift, informed decisions based on data that’s not just clean, but readily available when it matters most.”
A Visionary Mission Since Inception
The company was established in the year 2014 and has been on a mission to ensure timely access to clean data for players, providers and patients. The endeavour aligns with the global shift towards data-driven decision-making in healthcare. HiLabs’ flagship Mcheck Platform, hosted on the cloud, plays a pivotal role in ingesting, cleaning and enriching critical healthcare information. This results in a substantial reduction in operational costs for healthcare organizations and an improvement in patient outcomes.
A Decade of Dedication and Growth
10 years ago, Co-founders Amit Garg and Dr. Neel Butala initiated HiLabs’ journey at Yale University in the United States. With a modest team comprising interns and 2 full-time employees based in India, the startup has grown significantly. Under Amit Garg’s leadership, HiLabs has established robust AI and machine learning R&D hubs in Pune and Bengaluru.
Recognized Impact and Real-world Solutions
Dr. Prem Pavoor, Senior Partner and Head of India and Healthcare Investments at Eight Roads Ventures, commended HiLabs for leveraging the US-India corridor effectively. He stated, “We have closely followed Amit’s journey over the past couple of years as he has leveraged the United States-India corridor very effectively to build both a top-tier leadership team and deep AI/ML talent in their India R&D centres.”
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Jesse Lane, Founder and Managing Member of Denali Growth Partners highlighted HiLabs’ tangible impact in the healthcare ecosystem, emphasizing its real-world solutions. He stated, “While many discuss the potential of AI, particularly in the healthcare ecosystem, HiLabs is demonstrating real-world impact.”
Enabling Transformational Change
Carl Byers, Partner at F-Prime Capital, emphasized HiLabs’ AI-driven approach to data management as a game-changer. Byers noted that HiLabs not only fills a critical gap in the market but also facilitates transformational change among payers and providers. This includes leveraging real-time data to enhance user experiences, reduce costs, and drive value.
