Founded by Gary Conkright, an alumnus of Purdues College of Engineering, physIQ (which is incidentally a Purdue University-affiliated company) applies AI to real-time physiological data from wearable sensors in order to develop solutions that will improve healthcare outcomes.

The money that physIQ has received is from Purdue Research FoundationsFoundry Investment Fund, which was established in 2014 through a partnership between Purdue research Foundations and Cook Medical. The goal of the fund is to add critical capital for the transition from the discovery of a promising technology to founding a viable life sciences company. In the past five years, the Foundry Investment Fund has invested nearly $5 million in 13 companies.

The Foundry Investment Fund plays an important role in attracting interest in Purdue-affiliated life sciences companies, said John Hanak, Managing Director ofPurdue Ventures. Gary Conkrights team at physIQ offers a great example of the kinds of technology and products that align perfectly with the goals of the fund.

Commenting on the funding, Conkright noted that, one of the many exciting factors of the collaboration is that it facilitates a closer alignment with some of Purdues experts. One specific example is the direct collaboration with the school of biomedical engineering, which will accelerate physIQs work in areas in which they excel. In tandem, we are providing real-world use cases to the schools research efforts, he said.

This investment is an incredible show of support and confidence in our technology and our vision from the Purdue Research Foundation, Conkright added. The Foundations support will help us continue to lead the way in changing how healthcare is developed and delivered through FDA-cleared physiology analytics.

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physIQ receives $500000 for its AI healthcare solutions - ITIJ