UCARE.AI, a Singapore-based artificial intelligence medical technology startup, recently completed its Series A financing, bringing its total financing to date to S$8.2 million. A round of investors include Walden InternaTIonal, Southeast Asia's oldest insurance group - Great Eastern, Singapore stock tycoon and philanthropist Mr. Lin Rongfu (Peter Lim, C Luo Portrait Rights Hold People) and WPGParty Ventures, a venture capital firm owned by WongPartnership.
Technology plan
UCARE.AI uses a series of self-developed arTIficial intelligence AI engines to analyze existing medical data through deep learning and neural network technologies to achieve optimal distribution of medical resources. The engine is especially focused on predicting preventable hospitalizations and helping the industry save significant annual expenses by reducing the chances of hospitalization. The engine demonstrated highly accurate predictive power on a re-hospital risk management test for a number of Singaporean nationals.
“The world is facing the problem of rising health care costs. Artificial intelligence has been proven to be used to improve medical quality and improve the quality of life. This is a huge potential business opportunity, and UCARE.AI has taken the lead in market leadership. ," Wang Soo Ping, executive director of Walden InternaTIonal, commented.
customer group
Currently, the service target of the UCARE.AI real-time artificial intelligence engine is locked into three parties of the medical system: patients, medical parties and payers. The UCARE.AI team expects to improve the engine in the future to benefit the entire healthcare system. Everyone in the future can understand their health risks so that they can take precautions as soon as possible to live a healthy and happy life; doctors and the medical industry can be optimized to focus on patients who are more urgently in need of help; and insurance companies can Provide more customers with better protection and services while maintaining premiums.
Adrian Lee, CEO of Parkway Shenton commented: “Baihui is pleased to work with UCARE.AI to provide continuous monitoring of patients such as “individualized health risk assessment and instant medical careâ€. And disease management measures. These (information) will allow patients to choose the right lifestyle to improve their health."
Ryan Cheong, Managing Director of Strategy and Transformation at Great Eastern, said: "We believe that artificial intelligence will help improve the efficiency and cost of healthcare-related services in assessing, classifying, analyzing and making informed guesses. Benefits. Especially for Great Eastern, we believe that artificial intelligence technology can help our customers achieve better health outcomes."
Entrepreneurial team
After nearly 30 years of working with eBay, Yahoo, Microsoft, and Google, Neal left Google in 2016 to form an experienced data scientist and An artificial intelligence expert team to create a UCARE.AI proprietary real-time artificial intelligence engine.
Neal, founder and chief technology officer of UCARE.AI, explained: "We hope to solve the "unsolvable problems" in the areas we care about. This challenge is also my personal goal - because we are convinced that we can enjoy more Good health care. With the support of early customers, our technology platform has achieved accurate risk assessments and in-depth health level analysis for hundreds of thousands of people."
ChrisTIna, co-founder and CEO of UCARE.AI, said: "At present, the industry is in a state of fair competition in the Asian market. We plan to recruit talents and expand our business locally with funds raised. We believe that we account for Successful time, place and people."
Investor and philanthropist Peter Lim is optimistic about the prospects of UCARE.AI. “The team at UCARE.AI has the right professionals, partners and strong leadership team. This will make their vision a success.â€
About Neal Liu
Neal Liu, founder and chief technology officer of UCARE.AI, has nearly 30 years of experience in the high-tech industry. Neal's technical experience includes research and development at the MIT Media Lab, Microsoft's large-scale software builds and solutions, and Google's latest media advertising technology. After five years at Google, he left in 2016 and founded UCARE.AI to pursue the use of data and artificial intelligence to improve lifelong ideals. Neal holds an MBA from the Wharton School of the University of Pennsylvania and a BS in Electrical Engineering and Computer Science from the Massachusetts Institute of Technology.
About Christina Teo
As a senior financial leader with 20 years of experience in the private equity arena, Christina has led several global investment initiatives across multiple industries in Asia and the United States. Prior to serving as CEO of UCARE.AI in 2016, she served as a director of Mint Media, managing director of L Capital Asia (LVMH), and held other senior investment positions at Deutsche Bank's strategic investment group Affinity Equity Partners. Christina is also a member of the Yellow Ribbon Fund Promotion Committee, helping prisoners to reintegrate into society. Christina holds an MBA from Harvard Business School and a Bachelor of Business Administration Honours from NUS Business School.
About UCARE.AI
The UCARE.AI team was founded in 2016 by Neal Liu and Christina Teo and consists of data scientists and technical experts. Its common mission is to solve real-world problems and improve lives through data analysis in an ethical manner. The goal of UCARE.AI is to create the most advanced and visionary predictive artificial intelligence engine for all aspects of the healthcare industry to help patients, healthcare companies, caregivers and payers manage patient care more effectively. Process and reduce expenses.
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