Binny Bansal, a co-founder of Flipkart, is leading a $3.5 million seed fundraising round for the healthtech startup Risa Labs. Oncology Ventures, General Catalyst, z21 Ventures, Odd Bird VC, and angel investor Ashish Gupta also participated in the round.
According to a press statement from Risa Labs, the money raised will be utilized to roll out its AI-based automation platform across 100 US cancer centers over the course of the following two years.
BOSS (Business Operating System as a Service) is a workflow orchestration platform provided by Risa Labs, which was co-founded in 2024 by Kshitij Jaggi and Kumar Shivang. The technology breaks down intricate workflows into smaller jobs using a network of AI agents, such as digital twins and big language models, to automate administrative procedures.
Risa Labs eliminates the issues of manual and error-prone workflows postponing life-saving treatments. With 70% of patients experiencing delays and a third waiting up to a month, prior authorization restrictions are a major factor. This lag can raise the risk of death for some cancer types.
According to Risa Labs, BOSS has previously been implemented at a US cancer hospital, where it handled more than $1 million worth of prescription drugs, decreased administrative expenses by two-thirds, and shortened prior authorization times from thirty minutes to less than five.
In order to create a single layer for AI-driven orchestration across the drug lifecycle, Risa plans to expand its platform across several nodes of the oncology ecosystem. This will allow for increased intelligence and coordination between providers, life sciences organizations, and other stakeholders.
