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Andrew Ng's fund makes first India investment with AI healthcare firm Jivi
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Andrew Ng's fund makes first India investment with AI healthcare firm Jivi
Oct 7, 2024 6:38 PM

Oct 8 (Reuters) - Computer scientist Andrew Ng-led AI

Fund said on Tuesday it has invested in an Indian artificial

intelligence healthcare firm named Jivi, the fund's first such

investment in the country.

India's booming AI segment is expected to grow more than

double to up to $22 billion by 2027, according to a Nasscom-BCG

report released earlier this year. The products and startups

category is expected to account for 15-17% of the market, tying

for the highest share along with financial services.

Jivi, based out of the northern Indian city of Gurugram,

uses AI to suggest potential diagnoses and treatments, generate

health reports and perform administrative tasks, the fund said

in a statement.

The fund did not specify how much it invested in the startup

or how much stake it bought.

Backed by Sequoia Capital and Softbank Group, AI Fund has

also invested in podcast-production platform Podcastle and

investment-research application Octagon AI.

Ng, managing general partner at AI Fund, joined Amazon's ( AMZN )

board in April. Previously, he led AI projects at

Alphabet's Google and Chinese internet search engine Baidu

before resigning from both.

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