Gov. Ralph Northam on Thursday announced that Zasti, Inc., an artificial intelligence (AI) technology company for the healthcare industry, will invest $5.9 million to establish its U.S. headquarters and operations in Loudoun County.
The company will utilize the facility to develop and embed ZASTI AI platforms in diagnostic devices and enterprise IT systems to ensure product quality, supply chain security, and affordability. Virginia successfully competed with Maryland for the project, which will create 60 new jobs.
“Virginia continues to push new boundaries in artificial intelligence, and we are excited to welcome a global company that is advancing both the technology and healthcare industries with its innovative platform,” Northam said in a news release. “Our Commonwealth has the second-highest concentration of technology workers in the country, and Zasti’s Loudoun County operation will tap into the deep well of talent in the region to build on its mission of using artificial intelligence to address our most pressing challenges.”
Founded in 2017 and incubated at the renowned Healthcare Technology Innovation Centre of the Indian Institute of Technology Madras, Zasti, which is Sanskrit for "prediction," developed and validated its AI platform for three years in India and the United Kingdom.
The company recently moved its headquarters to the United States. Zasti’s predictive analytics are designed to provide early risk screening solutions to underserved communities and decarbonize healthcare.
The Virginia Economic Development Partnership worked with Loudoun County to secure the project for Virginia. Governor Northam approved a $150,000 grant from the Commonwealth’s Opportunity Fund to assist Loudoun County with the project, and funding and services to support Zasti, Inc.’s employee training activities will be provided through the Virginia Jobs Investment Program.