Investment Notes: NexusMD A$6.3 million

We’re excited to partner with NexusMD in their mission to use AI to reduce the administrative burden on healthcare workers in the hospital system.

NexusMD’s initial AI product ingests data from diverse sources, processing clinical content and medical information, captured through ambient listening and image-based text.  The agents compile this information into structured clinical notes and accurate clinical coding and are already saving doctors in emergency departments one-third of their time. 

The team

In the current AI era — where competition is fierce and commoditisation is swift — we back teams that:

1. Build quickly to outcompete
2. Are strategic about the wedge they go after, how they expand and why

Mike Zhu and the NexusMD team exemplify both. Mike is a deeply technical founder with strong healthcare roots. He grew up in a family of doctors and previously built Baikemy, a healthcare startup acquired by Bytedance. 

Throughout our meetings last year, we were consistently impressed by Mike’s speed, execution, and “run through walls” work ethic. 

The opportunity

Healthcare was notoriously difficult to disrupt in the SaaS era — even today, doctors still rely on fax machines and paper. 

We believe, however, that the sector is finally poised for rapid technology adoption:

• Worsening labour shortages in healthcare, combined with an aging population, intensify the demand for efficiency
• The AI platform shift unlocks the automation of long-standing manual workflows
• Early success of patient note scribes demonstrates a clear product-market fit for AI-driven solutions

One of the biggest barriers to technology adoption has been the reticence of healthcare workers to change their workflows to incorporate new tools. 

The power of AI agents means it’s becoming possible to create custom solutions at scale. 

NexusMD’s strategy is to quickly spin up custom AI agents tailored to each hospital’s unique workflows over time, automating more and more of their tasks without sacrificing scalability.

What’s next for NexusMD

With multiple hospital emergency departments already using its initial product, NexusMD plans to develop a full suite of AI agents targeting various administrative processes. Because the emergency department acts as the hospital’s central hub — routing patients to specialised units — NexusMD will expand both its product suite and the units it serves.

We’re proud to support NexusMD as it transforms healthcare’s administrative burden and frees medical professionals to focus on high-quality patient care.