Qualcomm India Fund’s First Pick: A Startup Aiming to Use Big Data to Stop Epidemics
Wednesday, October 21, 2015
One of the highlights of Indian prime minister Narendra Modi’s visit to Silicon Valley last month was a meeting with executive chairman of chipmaker Qualcomm Dr. Paul Jacobs. This was part of a series of meetings with tech honchos to evangelize Indian startups and the government’s Digital India initiative.
Following the meeting, Qualcomm Ventures announced an India-specific fund of US$150 million for investing in startups. Today, Chennai-based healthcare startup Attune Technologies becomes the first to benefit from this new fund. It announced a series B funding round of US$10 million from Qualcomm Ventures along with the participation of existing investor Norwest Venture Partners. Attune had earlier raised US$6 million from Norwest in 2010 and US$1 million from Singapore-based angel investors between 2010 and 2012.
Attune brings Internet of Things to the healthcare industry. Its cloud-based software connects devices such as lab analyzers and ICU machines to the health network. This gives hospitals, clinics, and diagnostic labs instant access to data integrated from multiple sources.
Currently, 200 hospitals in India use the software. Attune plans to expand to Southeast Asia, West Asia, and Africa with the new funds.
Big data to stop the spread of an epidemic
Attune is also working with the Indian government on a project to collate machine data from all the health centers in a rural district to pinpoint where help needs to be provided. The startup believes this can prevent the spread of epidemics. There are numerous ways in which health officials can be empowered with analytical capabilities using big data.
“We are constantly innovating new solutions to make healthcare affordable, seamless, and efficient for the entire healthcare value chain,” says Arvind Kumar, founder & CEO of Attune Technologies.
Source: Tech in Asia (link opens in a new window)
- Health Care