GenAI-driven healthcare Insurance fraud and risk management company Consint.AI has raised Rs 5 Cr in a seed round led by Equanimity Ventures and Seafund. Through increased sales outreach and accelerated development of the Generative AI Feature Suite for Health AI Platform, the funds raised will be used to scale operations. Enhancing fraud detection, streamlining claims processing, and providing individualized clinical care are some ways to promote innovation in the healthcare industry. In order to solidify its position as a market leader for health tech solutions, the funds raised in this round will also be used to increase the team, upgrade the infrastructure, and conduct research and development.
Manoj Agarwal, Managing Partner, Seafund, says, “Our focus on emerging tech like GenAI, deep tech, IoT and sustainability has been the guiding force when it comes to backing unique and innovative startups. Consent.AI’s laser sharp focus on solving the problem of healthcare Insurance claims processing and fraud detection improving performance of Insurance and Healthcare institutions is a multi-billion dollar problem to solve and we believe that we have the necessary expertise and network to help the company grow and reach its ambitions.”
Founded in 2020 by Ashish Chaturvedi and later joined by Swadeep Singh as Co-Founder, Consint.AI is a pioneering Generative AI-driven healthcare fraud and risk management company dedicated to transforming healthcare transactions and personalized care. Consint aims to optimize healthcare claims transactions, making it affordable and efficient with its cutting-edge platforms like Risk.ai, engineered to optimize insurance transactions and mitigate fraud, and CIPHR.ai which is designed to enhance critical patient management and streamline claims generation. By harnessing advanced Generative AI solutions, the company empowers businesses across emerging markets and the U.S. to drive value-based care, operational efficiency, and sustainable growth.
The company has recently launched CIPHR.ai, an AI-driven platform tailored for hospitals, built upon custom Generative AI models to revolutionize care personalization in critical patient management. CIPHR.ai provides intelligence at the point of care and generates claims transactions enhancing efficiency for healthcare providers.
In the last two quarters, the company has achieved significant growth, securing Rs 10+ crore in signed contracts. This includes multiple multi-year agreements with leading insurance providers and hospital systems, highlighting strong market validation and growing demand for its innovative solutions, particularly in the areas of Generative AI and Document Forensics.
Ashish Chaturvedi, Founder and CEO, Consint, added, “This current market traction and milestones highlight the transformative potential of Generative AI in reshaping healthcare as we know it. At Consint, we are pioneering GenAI-driven platforms like CIPHR.ai and Risk.ai to solve complex challenges in healthcare transactions and personalized care. Our focus remains on advancing our Generative AI capabilities to drive innovation, deliver impactful solutions, and empower businesses globally to achieve seamless operations and value-based care. This funding accelerates our mission to lead the charge in AI-powered healthcare transformation.”
Consint plans to continue expanding Risk.ai to drive seamless transactions in the emerging InsurTech markets, with a focus on product enhancements and accelerated sales efforts. Additionally, it aims to strategically penetrate the U.S. market by establishing a strong product-market fit for its CIPHR.ai Provider Platform, leveraging its Generative AI solutions to meet the specific needs of healthcare providers and Accountable Care Organizations (ACOs). These initiatives are geared towards solidifying the company’s presence in key markets and driving sustainable growth.
Consint.AI is focused on transforming the $600 billion healthcare transaction market by making claims transactions seamless and enabling value-based care. With a projected 4x YoY business growth, the company is strategically expanding its Risk.ai product across private and public insurance markets in the APAC and MEA regions.
