Risa Labs Secures $3.5 Million Investment for AI-driven Cancer Care Solutions
Risa Labs, an innovative healthtech startup, has successfully raised $3.5 million in seed funding, with the investment round led by Binny Bansal, co-founder of Flipkart. The funding also attracted interest from Oncology Ventures, General Catalyst, z21 Ventures, Odd Bird VC, and angel investor Ashish Gupta.
The funds will be utilised to implement Risa Labs’ AI-based automation platform in 100 cancer treatment centres across the United States within the next two years, as stated in a company press release.
Established in 2024 by Kshitij Jaggi and Kumar Shivang, Risa Labs provides a workflow management platform known as BOSS (Business Operating System as a Service). This advanced system employs a network of AI agents, including large language models and digital twins, to streamline administrative duties by decomposing intricate workflows into more manageable micro tasks.
Risa Labs effectively addresses the issue of delays in critical treatments stemming from manual, error-prone workflows. The requirement for prior authorisation significantly contributes to this challenge, with 70% of patients experiencing delays, and a substantial portion waiting for as long as a month—this lag can elevate mortality risks associated with specific cancer types.
According to Risa Labs, the BOSS platform has already been launched at a cancer treatment facility in the US. There, it successfully reduced prior authorisation times from 30 minutes to under five, managed over $1 million in medication orders, and decreased administrative expenses by two-thirds.
Risa Labs aims to expand its platform across various components of the oncology ecosystem, fostering improved collaboration and intelligence among healthcare providers, life sciences organisations, and other relevant stakeholders, as part of the company’s vision to create a cohesive layer for AI-driven orchestration throughout the drug lifecycle.
