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DIGITAL announces its largest investment to advance AI-powered technologies for the healthcare sector

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VANCOUVER, BC, July 10, 2024 /CNW/ – DIGITAL, Canada’s Global Innovation Cluster for digital technologies, announced today its largest investment with innovative Canadian health tech companies and researchers to advance the development and deployment of AI-powered technologies to better support healthcare providers and enhance patient outcomes.

Transforming healthcare innovation with AI-driven solutions.

Led by ORX in collaboration with a pan-Canadian team of Tali AI, HEALWELL AI, Phelix AI, WELL Health Technologies and Simon Fraser University (SFU); DIGITAL’s investment in the Health Compass II project will introduce an innovative suite of four AI-driven modules to increase patient engagement, reduce administrative burnout, assist healthcare providers with documentation and enhance clinical decision-making. These modules will be integrated through an Electronic Medical Record (EMR)-agnostic mobile app to further advance patient engagement. WELL’s capabilities as a Canadian leader in EMR innovation, AI healthcare solutions and information security services supports the consortium’s collective commitments to privacy, cyber security and ethical AI implementation for Health Compass II.

DIGITAL’s investment of $15.3 million to support the consortium of organizations is being leveraged by investments from the project partners into a total project value of $44 million. This new commitment builds on DIGITAL’s original $3.1 million investment in 2022, which demonstrated the potential of an AI-powered ecosystem to transform Electronic Medical Records (EMRs) via WELL’s EMR leveraging ORX’s predictive AI technology and Tali AI’s AI Assistant.

“Canada has a significant opportunity and imperative to leverage our global leadership in AI research into accelerated commercialization of Canadian AI applications and tools. These tools will help solve some of the world’s biggest challenges while accelerating the growth of Canadian companies. DIGITAL’s continued investment in the Health Compass initiative is supporting improved health outcomes for Canadians while also supporting Canadian innovators,” said Sue Paish, CEO of DIGITAL. “Since 2018, DIGITAL has worked to foster innovation, help Canadian companies grow and spur private sector investment in digital solutions that are making a positive difference in the lives of Canadians.”

DIGITAL’s new investment highlights DIGITAL’s commitment to supporting competitive Canadian companies scale through leveraging and spurring private sector investment in innovation. The collaboration is integrating tangible intellectual property (IP) developed through the previous DIGITAL investment while also enabling the growth of Canadian companies, supporting a Canadian industry leader and Canadian AI research.

“This is a monumental milestone and we are honoured and grateful to DIGITAL and Minister Champagne’s office for their commitment to supporting healthcare innovation,” said Hamed Shahbazi, CEO and Founder of WELL Health Technologies. “At WELL, we are committed to leveraging technology to empower healthcare providers to ultimately improve patient outcomes. Projects like Health Compass II directly support this mission and are essential in fuelling healthcare’s digital transformation.”

The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, and Vancouver-Granville MP, Taleeb Noormohamed, attended the announcement with DIGITAL at WELL Health’s Vancouver office, where they were given a live demonstration of one of the Health Compass AI-driven modules from Tali AI. The demonstration showcased Tali AI’s AI Assistant technology, which captures medically relevant information from natural conversations without taking provider focus away from their patient and alleviating significant administrative burden.

“Artificial intelligence presents a transformative opportunity for healthcare professionals to innovate and enhance patient experiences, and Canada is at the forefront of this pivotal field,” said The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry. “Our government is proud to champion the Digital Technology Cluster as it collaborates with industry partners and researchers to reshape the delivery of healthcare services for Canadians.”

“From helping health professionals take notes and assist in recording their diagnoses, to streamlining administrative paperwork and facilitating the patient care experience, this innovative project is using AI to build a better future for Canadians,” said Taleeb Noormohamed, Parliamentary Secretary to the Minister of Canadian Heritage. “The government looks forward to the success of the Health Compass II project and to other made-in-Canada innovations, that will unlock social and economic benefits for everyone.”

Since 2018, DIGITAL has committed over $200 million of its total $255 million invested into Canadian-led, AI-enabled technology development, commercialization and adoption. DIGITAL’s co-investments have spurred private industry investment into a $637 million portfolio spanning health care, natural resources, agriculture, and workforce development. DIGITAL’s private sector partners have gone on to raise over $1.2 billion in follow-on funding and generate over 630+ Canadian-owned IP assets and patents.

To learn more about this investment and the Health Compass project it supports, visit here.

Access this release in French here.

About DIGITAL

DIGITAL, Canada’s Global Innovation Cluster for digital technologies, grows Canadian businesses through the development, adoption and deployment of Canadian-made technologies and by working with industry to develop a digitally skilled workforce to positively impact lives across our country. 

We bring together businesses, academia, community and government agencies to solve some of industry and society’s biggest challenges – better and faster than any single organization can do on its own. Through a powerful model that combines cross-sector collaboration, Canadian IP creation and results-based co-investment, we unlock the potential of Canadian industry to lead and succeed in the digital world. 

Ahead of the curve starts here. For more information, visit digitalsupercluster.ca 

SOURCE DIGITAL

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IIFL Capital Launches Algo Marketplace with Over 100 Ready-Made Strategies

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June 19, 2026

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MUMBAI, India, June 19, 2026 /PRNewswire/ — IIFL Capital Services Limited (https://www.iiflcapital.com) today announced the launch of its next-generation algorithmic trading platform. The platform offers access to more than 100 ready-made exchange-approved algorithmic trading strategies, making sophisticated trading tools accessible to a wider investor base.

Algorithmic trading has emerged as one of the fastest-growing segments in global capital markets, driven by advances in technology, data analytics and automation. In India, increasing regulatory clarity and growing investor adoption are accelerating the shift towards systematic and rules-based trading approaches.

Commenting on the launch, Rachit Mehta, Head of Products and Platform, IIFL Capital, said:

“For over three decades, IIFL has been at the forefront of innovation in India’s financial services industry. From pioneering digital investing solutions to building cutting-edge trading infrastructure, technology has been central to our growth journey. The launch of our Algo Marketplace marks another important milestone in that evolution.”

“With access to over 100 ready-made strategies, a robust technology architecture and participation from leading exchange-approved strategy providers, I believe we have created one of the most comprehensive algorithmic trading ecosystems in the country. Our objective is to democratize access to sophisticated trading strategies and empower investors with institutional-grade tools through a simple and intuitive platform.”

The launch further strengthens IIFL Capital’s position as a technology-led financial services institution. Over the past three decades, the company has consistently invested in digital innovation, helping millions of investors access capital markets through advanced yet user-friendly solutions.

As algorithmic trading continues to gain momentum in India, IIFL Capital’s platform aims to bridge the gap between institutional-grade technology and retail investor participation, bringing automation, discipline and data-driven decision-making to a broader audience.

About IIFL Capital Services Ltd

IIFL Capital Services Ltd (formerly known as IIFL Securities Limited) (NSE: IIFLCAPS) (BSE: 542773) is one of the key capital market players in the Indian financial services space. IIFL Capital offers broking services, wealth management, financial products distribution, institutional broking, research and investment banking services.

Photo: https://mma.prnewswire.com/media/2997315/IIFL_Algo_announcement.jpg

 

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LUMIQ Raises INR 50 Crore Pre-Series B to Become the AI Decision Layer for Financial Services

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June 19, 2026

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While most AI in financial services remains advisory, LUMIQ has built the layer that owns the decision — autonomous, auditable AI agents making regulated calls in production at leading banks, insurers, and capital markets firms. Today, LUMIQ serves clients across India, the United States, and Southeast Asia — leading institutions across insurance, banking, and capital markets.

NEW DELHI and MUMBAI, India, June 19, 2026 /PRNewswire/ — LUMIQ, an AI-native financial services company, today announced a strategic funding round to scale auto-decisioning for financial institutions across the United States and Southeast Asia. The round was led by Bajaj Finserv, one of India’s largest and most diversified financial services groups, with participation from existing investor Info Edge Ventures.

Right now, thousands of customers are waiting for a policy to be issued, a loan to be disbursed, a claim to be adjudicated, because somewhere an FSI employee is drowning in decisions, held back by the risk of getting it wrong. Today, when e-commerce delivers the same day, banks and insurers still decide in weeks. We built LiteCone to take that burden: AI decides the routine cases, completely and accountably, so humans spend their judgment on the one case that actually needs it. This round lets us bring that to every financial institution in the markets that matter most.
Shoaib Mohammad, Co-founder and CEO, LUMIQ

From AI that assists to AI that decides

For decades, financial institutions have bought technology that made their people faster — faster data, faster scoring, faster copilots. The decision still landed on a human. LUMIQ is changing that. Through its LiteCone platform, the company deploys AI agents that read the file, apply the institution’s own guidelines, and reach the decision end to end — escalating only the cases that genuinely require human judgment. The output is not a recommendation. It is a decision, with full reasoning attached, cross-referenced to policy, and defensible under audit.

The results in production speak clearly. At a leading life insurer, LUMIQ’s LEO agent decides 75–80% of underwriting cases with zero human touch, reduced policy issuance cost by roughly 25%, and compressed turnaround from days to under eight minutes — running 24×7 with complete auditability. Across its client base spanning insurance, banking, and capital markets in India, the US, and Southeast Asia, LUMIQ now processes millions of decisions annually.

LiteCone turns a real financial-services role into a working AI agent in weeks. Every agent we deploy is consistent, explainable, compliant, and auditable by design — not as an afterthought. This capital lets us go deeper on the platform and broader across roles. And through our cloud and AI lab partnerships, institutions will increasingly find LiteCone already embedded in the platforms they run today.
Vaibhav Dobriyal, Co-founder and Chief Product Officer, LUMIQ

This round funds four priorities: expanding go-to-market in the US and Southeast Asia; deepening LiteCone’s decisioning capabilities; extending the agent workforce across more financial-services roles; and building a partnership ecosystem with cloud hyperscalers, AI labs, and core banking and insurance platforms so LiteCone is embedded where institutions already run.

LUMIQ’s investors backed the round for the same reason its customers adopt LiteCone: agents already deciding in production, with auditability and control built in.

As a financial-services group, we know how much rests on getting regulated decisions right, at speed and at scale. LUMIQ has built AI agents that decide in production with auditability and control built in, the capability the industry has been moving toward. We are proud to lead this round and to support the team’s expansion across the US and Southeast Asia.
Lakshmi Iyer, Group President – Investments & CEO, Bajaj Alternates

Our conviction is grounded in what LUMIQ has already built. Their AI agents aren’t just built for the future. They are operating in production today, at speed. This combination is rare, and its value will only compound as the company scales globally.
Girish Jhunjhunwala, Fund Manager – PE and VC Investments, Bajaj Alternates

Financial services is one of the hardest categories to crack — regulated, risk-averse, and unforgiving of hype. LUMIQ has put agentic AI into live financial-services workflows and earned the trust of large institutions across the US, Southeast Asia and India. That is how a category-defining company in financial-services AI gets built, and we are proud to keep backing the team as they scale globally.
Kitty Agarwal, Partner, Info Edge Ventures

LUMIQ’s goal is to lead one category: auto-decisioning at production scale for financial services. Agents that act, not assist, and never compromise audit, compliance, or predictability.

About LUMIQ

LUMIQ is an AI-native financial services company. Through its LiteCone platform and a growing workforce of production AI agents, LUMIQ turns real financial-services roles — insurance underwriter, credit underwriter, claims adjudicator — into agents that are consistent, explainable, compliant, and auditable. The company pairs deep domain expertise across banking, insurance, and capital markets with frontier AI. LUMIQ employs over 350 AI and data specialists, and has offices in New Jersey, Singapore, and Delhi NCR (India).

Web: www.lumiq.ai

Photo – https://mma.prnewswire.com/media/2997317/LUMIQ_Funding.jpg

 

 

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LUMIQ Raises Strategic Funding to Become the AI Decision Layer for Financial Services

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1 minute ago

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June 19, 2026

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While most AI in financial services remains advisory, LUMIQ has built the layer that owns the decision — autonomous, auditable AI agents making regulated calls in production at leading banks, insurers, and capital markets firms. Today, LUMIQ serves clients across India, the United States, and Southeast Asia — leading institutions across insurance, banking, and capital markets.

NEW YORK and SINGAPORE, June 19, 2026 /PRNewswire/ — LUMIQ, an AI-native financial services company, today announced a strategic funding round to scale auto-decisioning for financial institutions across the United States and Southeast Asia. The round was led by Bajaj Finserv, one of India’s largest and most diversified financial services groups, with participation from existing investor Info Edge Ventures.

Right now, thousands of customers are waiting for a policy to be issued, a loan to be disbursed, a claim to be adjudicated, because somewhere an FSI employee is drowning in decisions, held back by the risk of getting it wrong. Today, when e-commerce delivers the same day, banks and insurers still decide in weeks. We built LiteCone to take that burden: AI decides the routine cases, completely and accountably, so humans spend their judgment on the one case that actually needs it. This round lets us bring that to every financial institution in the markets that matter most.
Shoaib Mohammad, Co-founder and CEO, LUMIQ

From AI that assists to AI that decides

For decades, financial institutions have bought technology that made their people faster — faster data, faster scoring, faster copilots. The decision still landed on a human. LUMIQ is changing that. Through its LiteCone platform, the company deploys AI agents that read the file, apply the institution’s own guidelines, and reach the decision end to end — escalating only the cases that genuinely require human judgment. The output is not a recommendation. It is a decision, with full reasoning attached, cross-referenced to policy, and defensible under audit.

The results in production speak clearly. At a leading life insurer, LUMIQ’s LEO agent decides 75–80% of underwriting cases with zero human touch, reduced policy issuance cost by roughly 25%, and compressed turnaround from days to under eight minutes — running 24×7 with complete auditability. Across its client base spanning insurance, banking, and capital markets in India, the US, and Southeast Asia, LUMIQ now processes millions of decisions annually.

LiteCone turns a real financial-services role into a working AI agent in weeks. Every agent we deploy is consistent, explainable, compliant, and auditable by design — not as an afterthought. This capital lets us go deeper on the platform and broader across roles. And through our cloud and AI lab partnerships, institutions will increasingly find LiteCone already embedded in the platforms they run today.
Vaibhav Dobriyal, Co-founder and Chief Product Officer, LUMIQ

This round funds four priorities: expanding go-to-market in the US and Southeast Asia; deepening LiteCone’s decisioning capabilities; extending the agent workforce across more financial-services roles; and building a partnership ecosystem with cloud hyperscalers, AI labs, and core banking and insurance platforms so LiteCone is embedded where institutions already run.

LUMIQ’s investors backed the round for the same reason its customers adopt LiteCone: agents already deciding in production, with auditability and control built in.

As a financial-services group, we know how much rests on getting regulated decisions right, at speed and at scale. LUMIQ has built AI agents that decide in production with auditability and control built in, the capability the industry has been moving toward. We are proud to lead this round and to support the team’s expansion across the US and Southeast Asia.
Lakshmi Iyer, Group President – Investments & CEO, Bajaj Alternates

Our conviction is grounded in what LUMIQ has already built. Their AI agents aren’t just built for the future. They are operating in production today, at speed. This combination is rare, and its value will only compound as the company scales globally.
Girish Jhunjhunwala, Fund Manager – PE and VC Investments, Bajaj Alternates

Financial services is one of the hardest categories to crack — regulated, risk-averse, and unforgiving of hype. LUMIQ has put agentic AI into live financial-services workflows and earned the trust of large institutions across the US, Southeast Asia and India. That is how a category-defining company in financial-services AI gets built, and we are proud to keep backing the team as they scale globally.
Kitty Agarwal, Partner, Info Edge Ventures

LUMIQ’s goal is to lead one category: auto-decisioning at production scale for financial services. Agents that act, not assist, and never compromise audit, compliance, or predictability.

About LUMIQ

LUMIQ is an AI-native financial services company. Through its LiteCone platform and a growing workforce of production AI agents, LUMIQ turns real financial-services roles — insurance underwriter, credit underwriter, claims adjudicator — into agents that are consistent, explainable, compliant, and auditable. The company pairs deep domain expertise across banking, insurance, and capital markets with frontier AI. LUMIQ employs over 350 AI and data specialists, and has offices in New Jersey, Singapore, and Delhi NCR (India).

Web: www.lumiq.ai

Photo – https://mma.prnewswire.com/media/2997283/LUMIQ_Funding.jpg

 

 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/lumiq-raises-strategic-funding-to-become-the-ai-decision-layer-for-financial-services-302805240.html

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