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Care.ai bags funding of $27M for its AI-based patient monitoring technology

Recently, care.ai, a Florida-based AI-driven platform, has raised funding worth $27 million in a series led by investment firm Crescent Cove Advisors. This platform has a number of connected sensors that have been dispersed around a healthcare institution that uses AI to screen patients. It enables a facility to gather real-time behavioural data for clinical and administrative insights.

Related: Researchers create digital health platform to improve remote monitoring for stroke patients

The purpose of this funding is to assist the company in expanding and delivering AI-based services in the healthcare industry. The CEO of care.ai, Chakri Toleti, says that Crescent Cove Advisors’ funding will enable them to reduce workforce burnout, which stems from manual processes, through their smart care facility. 

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According to Business Wire, global Healthcare Industry will be worth $12T by 2022. Healthcare is vast and highly fragmented with a mix of public and private players. It comprises healthcare providers such as hospitals, pharmaceuticals, and related life sciences. Digitisation and Post-Covid world are set to transform the healthcare industry in the coming decade. Top 5 trends include: Personalisation of patient care, new healthcare delivery models, convergence of food and health, increased global collaboration, and cloud-based electronic health records. HealthGeniuses.com is a business newsletter that curates latest innovations and disruptions in the Top 5 healthcare industry trends above from 100+ journals globally. Sign up to our weekly newsletter
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According to Business Wire, global Healthcare Industry will be worth $12T by 2022. Healthcare is vast and highly fragmented with a mix of public and private players. It comprises patients and healthcare providers such as hospitals, pharmaceuticals, and related life sciences.

Digitisation and Post-Covid world are set to transform the healthcare industry in the coming decade. Our weekly business newsletter covers innovations and disruptions in the Healthcare industry with global coverage.

HealthGeniuses is managed by IndustryGeniuses (A place where industries meet innovation). We are rolling out content platforms for the world’s hottest industries such as Food & Grocery Retail, Consumer Goods and Healthcare. For each of these key industries, we support Tech Startups and Industry Disruptors as they roll out next generation digital initiatives.

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