Healthcare AI Startup Consint.AI Secures Rs 5 Crore in Seed Funding
Consint.AI, a healthcare startup specializing in GenAI-driven insurance fraud and risk management, has raised Rs 5 crore in seed funding led by Equanimity Ventures and Seafund. The company plans to utilize the funds to expand its sales operations and enhance its Health AI Platform's Generative AI Feature Suite.
Founded in 2020 by Ashish Chaturvedi and later joined by Swadeep Singh, the startup has demonstrated significant market traction in the past year, expanding its presence across India, the Middle East, and Africa. Over the last two quarters, the company has secured Rs 10 crore in signed contracts, including several multi-year agreements with major insurance providers and hospital systems.
Consint.AI operates two primary platforms: Risk.ai and CIPHR.ai. Risk.ai focuses on optimizing insurance transactions and fraud mitigation. CIPHR.ai is a recently launched hospital solution that streamlines critical patient management and claims generation. Both platforms leverage custom Generative AI models to enhance healthcare operations.
"This current market traction and milestones highlight the transformative potential of Generative AI in reshaping healthcare as we know it," said Ashish Chaturvedi, Founder and CEO of Consint. "Our focus remains on advancing our Generative AI capabilities to drive innovation, deliver impactful solutions, and empower businesses globally."
The fresh capital will be used for team expansion, infrastructure upgrades, and R&D efforts. Consint.AI aims to strengthen its position in the health tech solutions market. It also wants to increase fraud detection capabilities, claims processing efficiency, and personalized clinical care delivery.
Manoj Agarwal, Managing Partner at Seafund, expressed confidence in the investment, stating, "Consent.AI's laser-sharp focus on solving the problem of healthcare Insurance claims processing and fraud detection is a multi-billion dollar problem to solve, and we believe that we have the necessary expertise and network to help the company grow."