AI-based healthcare startup Touchkin closes USD 1.3M for seed round
Founders: Jyotsana Aggarwal and Ramakant Vempati
Founded in: 2015
Financing status: USD 1.3 million for Seed round in 2017
AI-driven healthcare startup Touchkin closed USD 1.3 million in seed funding round led by Kae Capital. A consortium of undisclosed angel investors also participated in the round.
This Bengaluru-based startup was founded in 2015 by Jyotsana Aggarwal and Ramakant Vempati. Aggarwal previously worked as a board member of Head Held High Services. Vempati, a LBS alumni, previously worked as Senior Advisor at Silatech, and was formerly an Executive Director of Goldman Sachs.
Touchkin uses smartphone sensors to identify when a person may be in need of medical attention. Its machine learning platform identifies potential health issues through changes in activity, communication and sleep patterns as they are passively tracked by a person’s phone. The startup seeks to approach healthcare more proactively, thereby, reducing costs and improving outcomes, especially for chronic illnesses and mental health-related issues.
The startup offers users Wysa, an emotionally intelligent chatbot, to help people cope with anxiety and depression through conversations. The startup claims that Wysa has participated in 6 million conversations with 70,000 users in 30 countries. The startup goes on to claim that it helps reduce depression severity by 45% and has a 90% passive-detection-accuracy with depression. Another product of the startup is a data-analysis app, StayClose, that allows users to track the status of their own health, as well as, to remotely monitor the health of their family members.
The startup will use the new investment to enhance its AI-chatbot Wysa.
Other players in this area in India include Wayforward Health, Juno Clinic, InnerHour, etc.
(Top photo from Twing website)