Medwise.ai Secures £1 Million Investment for Growth
Medwise.ai, a pioneering digital health and artificial intelligence business, has successfully secured a substantial investment totaling £1 million from Finance Yorkshire and various other investors. This investment comes at a crucial time as the healthcare sector faces significant challenges, including a widening NHS vacancy list and rising reports of clinician burnout. Medwise.ai operates a search platform specifically designed for medical professionals and healthcare organizations, which dramatically decreases the time clinicians spend searching for critical information during consultations. Such advancements allow healthcare providers to see more patients, ultimately improving the quality of care being offered.
Founded in 2019 and currently headquartered in Leeds, Medwise.
.ai has a growing team of seven employees. The company has set its sights on expanding its operations throughout the Yorkshire region. The investment from Finance Yorkshire comprises £400,000 from its Seedcorn Fund and represents a part of a larger funding round exceeding £1 million. Notable participation also comes from health-tech investors such as StartUp Health and CalmStorm VC, along with deep-tech accelerator Deeptech Labs. Furthermore, Medwise.ai benefits from the invaluable support of clinician investors, including Dr. Michelle Tempest from Candesic and Dr. Chris Kelly from Google Health. Following its previous funding round, SFC Capital has made a follow-on investment to reinforce the company’s financial foundation.
The new funds are earmarked to scale up Medwise.ai's operations, especially focusing on enhancing its sales and marketing strategies in the UK marketplace. The company’s search platform leverages natural language processing and artificial intelligence technologies to assist clinicians in swiftly finding precise and actionable information at the point of care. Co-founder and CEO, Dr. Keith Tsui, expressed his enthusiasm, stating, “I am thrilled to have secured our seed funding and excited to accelerate our mission to empower clinicians with AI and search technologies.” Additionally, Alex McWhirter, CEO of Finance Yorkshire, emphasized the importance of Medwise.ai’s contributions to the healthcare sector, as they aim to empower clinicians to be more efficient and spend more time with their patients. The comprehensive support from various stakeholders highlights a collective effort to bolster the burgeoning healthcare technology sector within the Yorkshire region.
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