- Zephyr AI recently announced it raised $18.5 million. These are the details.
Healthcare tech company Zephyr AI recently announced that it has closed a highly successful seed round. The $18.5 million round was led by Lerner Group Investments LLC and M-Cor Holdings, with participation from Allen Y. Chao, AME Cloud Ventures, BoxGroup, MedStar Health, Roger W. Ferguson, Steve Oristaglio, Verily, and other strategic investors. The company was founded last year by Red Cell Partners, an investment and incubation firm that backs, builds, and scales technology-led companies in the healthcare and national security sectors.
Since forming a year ago, Zephyr AI has been building an unrivaled multidisciplinary team of data scientists, computer and software engineers, and computational and molecular biologists to advance a proprietary suite of cutting-edge technologies. And the Company’s ambitious goal is to make unprecedented advancements in precision medicine and drug discovery by ingesting complex, disparate data and applying novel machine learning algorithms to draw new insights, disrupting decades of traditional approaches.
Unlike other companies in AI-powered research, Zephyr AI utilizes a distinct, three-pronged approach that encompasses multi-dimensional data sets, transparent AI, and analyses in the context of structured biological networks and longitudinal outcomes. And these elements work synergistically to generate novel, translatable insights to help build tools and products in support of patients and providers and to fuel ongoing research. Plus Zephyr AI is prioritizing industry partnerships to access and maximally utilize an unprecedented array of data.
KEY QUOTES:
“The team at Zephyr AI impresses us with its unique and innovative approach to harnessing the predictive power of Artificial Intelligence and big data in healthcare settings. Zephyr AI has the proven ability to generate and validate a remarkable breadth of extraordinary insights. We are very pleased to co-lead this funding round and help realize the profound potential for this technology in disease mitigation and treatment.”
— Michael L. Cohen, Vice President of Investments at Lerner
“This successful funding round reflects investors’ collective confidence in Zephyr AI’s world-class data science and future as a much larger business. Zephyr AI’s vision and expertise promise to transform patient care in critical areas such as diabetes and cancer. As an organization deeply committed to being at the forefront of successful initiatives in medical research, we are delighted to be participating.”
— Josh Lobel, CEO and CIO of M-Cor Holdings
“We could not be more pleased with investors’ enthusiastic response to this initial capital raise for Zephyr. Having set out to raise a smaller number and finding ourselves oversubscribed, we were elated to expand the offering to be able to continue to fuel our extraordinary progress in our first year of existence.”
— Co-Founder and Executive Chairman of Zephyr AI Grant Verstandig
“This significant capital raise will help us expand our scope, including curating additional healthcare datasets, refining advanced machine-learning models, and deriving actionable insights for better outcomes in patient care and drug discovery.”
— David L. Morgan, CEO of Zephyr AI
