Andrew Ng's AI Fund Makes First Investment in India with Jivi Healthcare

 

By Varun Hebbalalu | Bengaluru, Oct. 7, 2024 — Andrew Ng, a prominent computer scientist and co-founder of Google Brain, has announced a significant step into India's burgeoning artificial intelligence sector with his investment fund, AI Fund. The fund has made its first investment in the country by backing Jivi, an innovative healthcare startup based in Gurugram.

Jivi leverages artificial intelligence to enhance healthcare delivery by providing potential diagnoses and treatment suggestions, generating health reports, and streamlining administrative processes. This investment marks a notable entry into the Indian market for AI Fund, which is poised to take advantage of India's rapidly growing AI landscape.

According to a recent report by Nasscom and BCG, India's AI sector is projected to more than double in value, reaching up to $22 billion by 2027. The report highlights that the products and startups category is expected to capture 15-17% of this market, tying with financial services for the largest share.

AI Fund has also received backing from industry giants like Sequoia Capital and SoftBank Group, and it has previously invested in various tech platforms, including the podcast-production service Podcastle and the investment-research application Octagon AI. The exact amount invested in Jivi and the stake acquired have not been disclosed.

Andrew Ng has had a remarkable career, previously leading AI initiatives at Google and Baidu before stepping down from both companies. In addition to his role at AI Fund, he joined Amazon's board of directors earlier this year, further solidifying his influence in the tech industry.

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