Wiseyak, an AI-based health-tech Nepali startup, has secured quarter-million US dollars in funding led by Team Ventures, a Nepali alternative investment firm.
The investment expands Team Ventures’ portfolio, which already includes food delivery platform Foodmandu, electric vehicle distributor White Lotus Motors, and investment banking and investment management institution Machhapuchchhre Capital Ltd. (MCL), among others.
Wiseyak is a healthcare technology company that leverages artificial intelligence and machine learning to provide clinical decision support to medical professionals across the healthcare industry through a unified platform.
“This funding from Team Ventures will help propel the development of the Wiseyak platform and position the company for its global launch.
Team Ventures is incredibly excited to be a part of Wiseyak that not only has tremendous growth prospects but also has the potential of making healthcare more affordable, accessible, transparent, and efficient for all.
Investment in Wiseyak is our testament to support innovative and world-class tech-based solutions founded and led by experienced and passionate entrepreneurs.”
—Tenzin Sonam Gonsar, CEO, Team Ventures.
The healthcare company has developed a platform called WiseMD, which is an AI-powered electronic medical records (EMR) solution platform. It enables users, doctors, and other health professionals to capture, visualize, and analyze patient medical data. The platform also makes AI-driven suggestions.
The Wiseyak AI-based healthcare platform offers various integrated solutions across the healthcare domain in fields such as standards-compliant interoperable data collection, clinical diagnostics, patient data management, patient engagement, remote consultation, population health, and healthcare research.
The technology company was co-founded by the current CEO and Chief Scientist Dr. Suresh Manandhar. He has 35 years of global experience in machine learning and artificial intelligence, specializing in natural language processing and medical image processing.
Dr. Manandhar previously served as the head of the Artificial Intelligence Research Group at the University of York, United Kingdom.
“Wiseyak will use this new funding to acquire the best talent for the company and make its current AI-based platform WiseMD more robust and flexible to integrate with other innovative healthcare solutions,”
—Dr. Hemanta Shrestha, COO and co-founder of WISEYAK.
AI in Healthcare
According to Allied Market Research, a market research and advisory company, the market for artificial intelligence in healthcare was valued at $8.23 billion in 2020. By 2030, it is expected to be valued at $194.4 billion, growing at a CAGR of 38.1% from 2021 to 2030.
The provided growth rate is notably faster than projected rates for other industries, including manufacturing, financial services, media, and entertainment. With an increase in global patient volume, a shrinking operational workforce, and technological advancement, the health care intelligence market is at the forefront of a great expansion.