Virginia Governor Ralph Northam today announced that 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.
Zasti, Inc. will utilize its new headquarters to develop and embed its ZASTI AI platforms in diagnostic devices and enterprise IT systems to ensure product quality, supply chain security, and affordability. Loudoun County successfully competed with other surrounding jurisdictions for the project, which is expected to create 60 new jobs.
“Healthcare innovation and addressing climate change are two of the defining issues of our day, and I am very pleased to have Zasti, Inc. develop those solutions right here in Loudoun County,” Board of Supervisors Chair at Large Phyllis Randall said. “Loudoun’s South Asian community is our fastest-growing international population, and we’re excited to see their contributions to the cultural and economic fabric of our county.”
Founded internationally in 2017 and incubated at the renowned Healthcare Technology Innovation Centre of the Indian Institute of Technology Madras, Zasti (Sanskrit for ‘prediction’) developed and validated its AI platform for three years in India and the U.K.
“Building Loudoun’s international business development strategy has been one of my biggest priorities,” said Supervisor Matt Letourneau (Dulles), Chairman of the Board’s Finance, Government Operations and Economic Development Committee. “Given Loudoun’s strong and vibrant Indian community, India in particular represents a tremendous opportunity for growth. I am excited to welcome Zasti, Inc. as the latest company to choose Loudoun as its home, and I look forward to the company thriving and becoming an important part of our diverse business community.”
Zasti, Inc. recently moved its headquarters to the United States and brings its strong Environmental Social Governance values to U.S. healthcare.
“I’m delighted to welcome Zasti, Inc. home to the Broad Run District, as we continue to create new jobs and diversify Loudoun’s economy,” Supervisor Sylvia R. Glass (Broad Run) explained. “We are entering a transformational period for Loudoun’s business community and we look forward to being partners in Zasti Inc.’s growth in the U.S.”
Zasti, Inc.’s predictive analytics solutions are designed to provide early risk screening to underserved communities and decarbonize healthcare. Further, 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, Inc. 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.”
“We are thrilled to successfully attract Zasti Inc.’s U.S. headquarters to Loudoun County, and look forward to giving their team a soft landing in our community. Thanks to Dulles International Airport, nearly one-in-four Loudoun residents immigrated to the U.S., with India representing the fastest-growing nation of origin,” 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 Inc. has in a bright #LoudounPossible future.”
Governor Northam approved a $150,000 grant from the Commonwealth’s Opportunity Fund to assist Loudoun County with the project. The Loudoun County Board of Supervisors will consider approving a matching grant from the Commercial Business Incentive Fund at their business meeting on Tuesday, March 16, 2021.
“Virginia continues to push new boundaries in artificial intelligence, and we are excited to add the headquarters of a global company that is advancing both the tech and healthcare industries with its platform,” said Governor Northam. “Our Commonwealth has the second-highest concentration of technology workers in the country, and Zasti Inc.’s Loudoun County operation can tap into the deep well of talent in the region to build on its mission of using AI to solve real-world problems.”
Funding and services to support Zasti, Inc.’s employee training activities will be provided through the Virginia Jobs Investment Program.
“Artificial intelligence-powered health tools are becoming more prevalent in the 21st century because of innovative companies like Zasti, Inc.,” said Secretary of Commerce and Trade Brian Ball. “Zasti Inc.’s suite of AI products are making a difference in preventive care and diagnostics to improve overall health outcomes, and we are confident the company will benefit from the access to talent and renowned higher education institutions in Loudoun County and Northern Virginia.”
The Virginia Economic Development Partnership worked with Loudoun County to secure the project for Virginia.
“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,” said Senator John Bell. “I am proud to announce 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 Delegate David A. Reid. “Zasti Inc. 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.”