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How A16z Invested $50M In AI Healthcare
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Hey friends đ,
Welcome back to the new Wednesday format where we cover AI x Startups. Last weekâs feedback was overwhelmingly positive so today, weâre continuing the trend and deep-diving into the biggest announcements in AI from startups, accelerators, and job vacancies (including a Discord Manager role at OpenAI). Read on to learn how you can get involved too:
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đ€ż 1 Deep Dive
Funding = $50M
Round = Seed funding
The Details
Hippocratic AI aims to differentiate itself in the healthcare sector by training its model with extensive medical knowledge and incorporating human feedback from healthcare professionals. By focusing on non-diagnostic, patient-facing tasks, the company intends to develop a language model that meets the necessary criteria for certification in various healthcare domains.
The capital raised will primarily be used to cover the expenses associated with hiring and training large language models such as ChatGPT.
Hippocraticâs investors include:
General Catalyst: served as an incubator for Hippocratic, believes that its existing partnerships with healthcare providers will facilitate the training and deployment of the startup's model. Hemant Taneja, CEO at General Catalyst, expressed the importance of building a trusted platform in collaboration with the healthcare industry.
A16z: highlighted that their investment is one of the largest seed checks they have provided in the healthcare sector. Partners at A16z, emphasized the startup's rigorous approach to safety, compliance, and privacy, which necessitates a substantial investment.
The Product
Hippocratics' flagship product is its AI-powered patient platform which uses a deep learning algorithm to analyse clinical data and identify patterns that are invisible to the human eye. The algorithm can then use this information to generate insights that can help clinicians make better decisions.
For example, the platform can identify patients who are at risk for developing sepsis, and it can recommend the appropriate treatment. The platform can also identify patients at risk for medication errors and provide alerts to help clinicians avoid these errors.
Hippocraticâs platform is currently being used in a variety of clinical settings, including hospitals, clinics, and physician offices, with the platform showing an improvement in patient outcomes and a reduction in costs.
đ 2 Growth Gateways
Google AI for Startups: This program provides startups with access to Google's AI resources, including its hardware, software, and expertise, as well as a network of investors and mentors. Itâs open to startups that are developing AI-based products or services, and is designed to help startups accelerate their development and commercialisation of AI-based products and services.
Microsoft for Startups: This provides startups with access to Microsoft's resources, and (like Google) access to a network of investors and mentors. Itâs open to startups developing AI-based products or services that can be used on Microsoft platforms, such as Azure and Windows. The program is designed to âhelp founders at every stage solve startup problemsâ.
đŒ 3 Career Connections
Head of Strategic Sales (UnionAI): UnionAI is looking for a sales rep to build and establish the company's sales process by leveraging the company's open-source community to deliver value to potential customers and convert them into paying customers.
Discord Manger (OpenAI): You'll engage with members, facilitate discussions, provide support, organise events, and gather feedback to enhance the community experience and promote their mission and products.
AI & Digital Tools Intern (Capria): You'll work on cutting-edge projects, gain leadership opportunities, and receive mentorship while contributing to the firm's global operations and innovation in AI and automation.
đ„ A Little Something Extra
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