IPO-Bound Fractal Proposes To Build AI Medical Foundational Model

IPO-bound AI startup Fractal Analytics has reportedly submitted an INR 150 Cr (around $17.5 Mn) proposal to the IndiaAI Mission to build a multimodal medical foundational model.

A Hindu Businesslines report, citing Fractal’s founder and chief executive Srikanth Velamakanni, said that the company is seeking a support of INR 127 Cr for the compute part.

The report further said that the model is aiming to address the huge imbalance in doctor-patient ratio, as it will employ its specialised medical knowledge to regions where it is most scarce.

Inc42 has reached out to Fractal for comments on the development. The story will be updated based on the response.

This comes at the heart of its plans (LRM) with a total investment of INR 118 Cr.

Back in March, Fractal’s chief AI Research and Platforms officer Suraj Amonkar told Inc42 that while the company will infuse INR 42 Cr in the project from its own coffers, it is seeking a capital subsidy of INR 76 Cr from the Centre under the IndiaAI Mission.

Earlier, the Mumbai-based AI startup an AI-powered model in India that can generate images from languages.

(The story will be updated soon.)

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