(Reuters) -Hippocratic AI raised $126 million in its latest funding round led by Avenir Growth, it said on Monday, valuing the healthcare company at $3.5 billion and underscoring venture capital’s strong interest towards artificial intelligence-integrated companies.
Private funding has remained strong, as companies keep getting valued in billions by startup investors looking to capture the AI rush. The 46% of all global venture funding in the third quarter went towards AI companies.
The round also saw participation from other investors, including Google’s growth fund CapitalG, General Catalyst, A16z, Kleiner Perkins and Universal Health Services, among others.
The latest round — Series C — comes after the company raised $278 million at a valuation of $1.64 billion earlier in the year.
Hippocratic AI was co-founded by CEO Munjal Shah alongside a group of physicians, hospital administrators, healthcare professionals and AI researchers from El Camino Health, Johns Hopkins, Stanford, Microsoft, Google and NVIDIA.
(Reporting by Pritam Biswas in Bengaluru; Editing by Alan Barona)
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