Binny Bansal, a co-founder of Flipkart, is leading a $3.5 million seed funding 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 release from Risa Labs, the money raised will be utilized to roll out its AI-based automation platform in 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 system breaks down intricate workflows into smaller tasks using a network of AI agents, such as digital twins and large 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 requirements are a major factor. This lag can raise the risk of death for some cancer types.
According to Risa Labs, BOSS has already been implemented at a US cancer center, where it processed more than $1 million worth of prescription drugs, cut 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.
