New Delhi, Aug. 20 -- Peak XV Partners, which primarily invests across India and Southeast Asia and has recently expanded its investment presence to the US, has doubled down on a portfolio company by participating in its Series B funding round, people familiar with the matter told VCCircle.
The venture capital firm has been increasing its focus on overseas AI and enterprise technology investments, particularly since its split from Sequoia Capital in 2023.
Its latest investment is in Texas-headquartered Arintra, which also has a presence in Bengaluru.
The autonomous medical coding platform has raised around $25 million (Rs 239 crore) in its Series B round led by US-based healthcare venture capital firm Define Ventures. The round also saw participation from existing investors including Y Combinator, Ten13 Capital, Counterpart Ventures and Spider Capital, alongside new investors Yale New Haven Ventures and Endeavor Ventures.
The company is likely to raise a small additional amount as part of the ongoing round, one of the persons cited above said.
An email sent to Arintra remained unanswered till the time of publishing this article.
Peak XV has been increasing investments in US-based AI and software startups as part of a broader push beyond India. Earlier this week, it participated in US-based AI voice startup Wispr Flow's $280 million Series B round. It also recently led a $50 million round in US-based voice AI startup Vapi.
Its global AI and infrastructure portfolio includes London-headquartered payments infrastructure startup Primer, AI-native cybersecurity startup Exaforce, AI geo-analytics platform The Prompting Company, AI healthcare revenue platform Claim Health, AI sales training startup Hyperbound, anti-piracy platform Marqvision, fintech startup Alex, observability platform Dashverse and memory infrastructure startup Mem0.
The latest investment marks a follow-on bet for Peak XV.
The firm had previously led Arintra's $21 million Series A round, which also saw participation from Endeavor Health Ventures, Y Combinator, Counterpart Ventures, Spider Capital, Ten13 Capital and other strategic investors.
Founded by Preeti Bhargava and Nitesh Shroff, Arintra provides an autonomous medical coding platform for healthcare providers. Its GenAI-native platform combines large language models with clinical knowledge graphs to interpret patient charts in context and apply specialty-specific coding guidelines.
The platform integrates with electronic health record systems such as Epic and Athena, allowing healthcare providers to automate medical coding workflows. It uses artificial intelligence to automate medical coding, a process that involves translating clinical documentation into standardized codes used for billing, reimbursement and reporting.
Published by HT Digital Content Services with permission from VC Circle.