Vamstar wins Innovate UK funding for its AI-based Pandemic Solution that enhances hospital supply management
London, June 1st, 2020 -– Vamstar, the start-up that connects healthcare buyers and suppliers using artificial intelligence, has won highly competitive project funding from Innovate UK, the UK’s innovation agency, which is part of the UK’s government’s £40 million fast track funding to drive forward cutting-edge start-ups in response to the coronavirus crisis.
“This reinforces our commitment to using deep learning, natural language processing and machine learning in complex and novel healthcare use cases as part of a solid foundation to our deep tech company.”
Dr Richard Freeman, co-founder and CTO of architecture and data science, Vamstar
This project and connected real-time supply chain analytics will ensure that in the future such crises are managed with a more proactive strategy vs a reactive supply chain approach currently prevalent in our health systems. By analysing this dataset through its custom artificial intelligence models, Vamstar are ideally placed to understand the pandemic supply risk both from a macro (ability) and micro (willingness) levels needed to manage a pandemic like COVID-19. The pandemic preparedness toolkit includes necessary items such as facemasks and PPE but also digital platforms that will aid in patient and population health management across these countries as it undergoes a rapid transformation.
“By predicting future hospital shortages, this Vamstar project will allow vital supplies to get for each hospitals when needed, leading to critical demand in hospitals being met faster and more reliably, dramatically improving health outcomes, and contributing to saving patients’ lives.”
Praful Mehta, co-founder and CEO, Vamstar
Vamstar is a data science powered global B2B healthcare marketplace platform. They aggregate $2 trillion of demand for healthcare products and services using machine learning and providing real-time insights to buyers and suppliers to accelerate transactions.Vamstar’s enriched data on buyers, outcomes, and contracts (including tenders) reveal interdependencies across complex contracting markets. By seeing the big picture and all the connections, Vamstar provides healthcare stakeholders with valuable market insights and perspectives.Vamstar partners with leaders in the industry, academia, and government in 70 countries to apply higher-level thinking to daily tasks and strategic issues. They offer their customers solutions to make them more efficient and help them make data-driven informed decisions to secure their future. For more information, visit https://vamstar.io
