Purdue University invests $500K in AI startup

physIQ, an Indiana-based healthcare company using AI to track the physiological data of patients, has received a $500,000 investment from Purdue University’s Purdue Research Foundation.

The company develops solutions designed to improve patient outcomes through the collection of data from wearable sensors. The sensors can help physicians track their own patients or be used by healthcare researchers to demonstrate the effectiveness of different solutions or medications. Gary Conkright, the founder of physIQ, is an alumnus of Purdue’s College of Engineering.

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

The investment is part of the Foundry Investment Fund, which has invested nearly $5 million in Purdue-affiliated businesses since 2014. Conkright noted that this helps his company establish “a closer alignment” with other experts associated with the university.

“The Foundry Investment Fund plays an important role in attracting interest in Purdue-affiliated life sciences companies,” John Hanak, managing director of Purdue Ventures, said in the same statement. “Gary Conkright’s team at physIQ offers a great example of the kinds of technology and products that align perfectly with the goals of the fund.”