Successful Round Powers Application of Algorithms for Advancing Human Health
TYSONS, Va., March 30, 2022--(BUSINESS WIRE)--Zephyr AI, Inc. ("Zephyr AI"), a high-growth healthcare technology company, announced today that it has closed its 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 in 2021 by Red Cell Partners, an investment and incubation firm that backs, builds, and scales technology-led companies in the healthcare and national security sectors.
"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," said Michael L. Cohen, Vice President of Investments at Lerner. "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."
Since its formation 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. 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.
"This successful funding round reflects investors’ collective confidence in Zephyr AI’s world-class data science and future as a much larger business," said Josh Lobel, CEO and CIO of M-Cor Holdings. "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."
Unlike other companies in AI-powered research, Zephyr AI uses 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. 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. Zephyr AI is prioritizing industry partnerships to access and maximally utilize an unprecedented array of data.
Co-Founder and Executive Chairman of Zephyr AI, Grant Verstandig commented, "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." David L. Morgan, CEO of Zephyr AI concluded, "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."
About Zephyr AI
Zephyr AI is a high-growth healthcare technology company committed to radically reshaping traditional approaches to drug discovery and precision medicine. Through partnerships and proprietary data, Zephyr AI is curating the world’s most comprehensive healthcare dataset and marrying it with cutting-edge artificial intelligence algorithms to generate novel, translatable insights to build tools and products that support both patients and providers and fuel ongoing research. At Zephyr AI, our mission-focused team of world-class software engineers and biologists leverage big data and cutting-edge technology to derive transformational insights and build enduring partnerships that will revolutionize the treatment of cancer, diabetes, and other diseases. Visit us at zephyrai.bio and follow us on Twitter, Instagram and LinkedIn.
About Red Cell Partners
Red Cell Partners is an investment and incubation firm that backs, builds, and scales technology-led companies bringing revolutionary advancements to market in the healthcare and national security spaces. United by a shared sense of duty and deep belief in the power of innovation, Red Cell leverages big data, artificial intelligence, machine learning, automation, and advance materials to develop powerful technologies to address the Nation’s most pressing problems. Visit us at redcellpartners.com and follow us on LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005872/en/