Zasti Inc. to invest $5.9M, create 60 new jobs in Loudoun County
Zasti Inc., an artificial intelligence technology company that develops innovative risk screening, predictive analytics, and climate change solutions 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.
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 and brings its strong environmental, social, and governance values to U.S. healthcare. Zasti’s predictive analytics solutions are designed to provide early risk screening solutions to underserved communities and decarbonize healthcare.
Each ZASTI© AI platform is based on rigorous research and validation conducted in tandem with high-pedigree academic research institutions.
“Virginia represents a confluence of values given its workforce diversity, commitment to the environment, and a strong academic research setting,” said Krish R. Krishnan, Zasti CEO. “It is a great place for a transformative vision-driven business like ours to thrive. Our AI platform offers valuable health risk screening and early disease detection for communities in need while creating low-carbon pathways for our stakeholders. With continued support from Loudoun County and Virginia, we hope to grow our workforce well beyond 60 jobs.”
The Virginia Economic Development Partnership worked with Loudoun County to secure the project for Virginia. Gov. Ralph 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.
“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. “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.”
“Artificial intelligence-powered health tools are becoming more prevalent because of innovative companies like Zasti, Inc.,” said Secretary of Commerce and Trade Brian Ball. “Zasti’s suite of AI products is making a difference in preventive care and diagnostics to improve overall health outcomes, and we are confident the company will benefit from the renowned higher education institutions in Northern Virginia.”
“We are thrilled to attract Zasti’s U.S. headquarters to Loudoun County,” said Loudoun Economic Development Executive Director Buddy Rizer. “This is another great step for economic diversity in Northern Virginia and further evidence of the importance of our international business development efforts. At a time when many international firms have paused their site selection searches overseas, we appreciate the confidence that Zasti has in a bright #LoudounPossible future.”
“Virginia continues to lead the way in being the best state to do business by attracting new industries and by building upon a strong economy that creates new opportunities for all,” State Sen. John Bell said. “I am proud that Loudoun County will gain 60 new jobs in a growing industry through this partnership and investment. This is a monumental accomplishment for the Commonwealth of Virginia, and we proudly welcome Zasti, Inc. to Loudoun County.”
“It’s exciting that a global company has established its U.S. roots right here in the 32nd District,” said Del. David A. Reid. “Zasti is revolutionizing the nexus of healthcare, artificial intelligence, and business to create better options for consumers globally. Bringing jobs to Loudoun means fueling our economy and creating lasting economic development that strengthens our community.”