Funding · 24 June 2025

NexusMD raises A$6.3 million in seed funding from Square Peg to deliver agentic AI at scale across the Australian healthcare ecosystem

Melbourne-based AI startup NexusMD has secured A$6.3 million in seed funding, led by Square Peg. The investment provides time and resources to embed its agentic AI technology into the hospital healthcare ecosystem.

NexusMD’s enterprise-grade, multi-agent AI technology is already deployed in three emergency departments across Victoria, streamlining clinical documentation and improving operational efficiency. More than a scribe, NexusMD delivers end-to-end workflow automation by deploying multiple AI agents that ingest information from diverse sources and compile it into structured clinical notes and summaries.

“By introducing NexusMD’s AI capabilities, we improved emergency department consultation efficiency by 30%, and simultaneously increased our physician workplace satisfaction. Administratively, NexusMD also provides us with more comprehensive and accurate ED medical notes, which reduces legal risk.”

— Dr Warwick Dobson, Emergency Medicine Specialist at Peninsula Private Hospital

NexusMD has been supported by Austrade and Invest Victoria since its early stages. With the recent backing of Square Peg’s A$6.3 million seed funding, the company is now entering its next phase of growth—scaling its technology and expanding its suite of AI agents beyond the emergency department into other critical hospital units.

Leadership team

check Mike Zhu, founder and CEO, is a seasoned healthcare entrepreneur and founder of Baikemy Net (acquired by ByteDance).

check Kevin Sun, PhD (CTO), is an expert in AI and big data R&D leadership.

check Neo Nie (CPO) is Co-founder and COO of Baikemy and former Head of User Operations at ByteDance Healthcare.

check Andrew Wilson (CCO) brings 20+ years of healthcare experience across commercial strategy and system operations.

The team is driving NexusMD’s mission to power Australian hospitals with a suite of AI agents.

“AI represents the industrial revolution of the 21st century—a force driving productivity, efficiency, and transformation. Growing up in a family of doctors, I witnessed firsthand the challenges of the medical profession. I saw how deeply committed doctors were to helping people, yet how often they were overwhelmed by administrative burden, leaving little time for themselves or their families. That personal connection fuels my mission with NexusMD. Looking ahead, I have big hopes for what we can build: an AI healthcare company that first transforms care in Australia and then expands its impact globally. One that helps patients access faster, higher-quality care, and empowers doctors to confidently use AI to become the best clinicians they can be. Together, these advances will also drive meaningful, long-term economic benefits for hospitals.”

— Mike Zhu, Founder of NexusMD

NexusMD adheres to Australian Privacy Principles (APP) and HIPAA standards. The company has achieved ISO 27001 certification and offers on-premises deployment, ensuring robust data security and compliance.

“The problems in healthcare are acute and they affect all of our lives. We need a solution that provides relief to overworked clinicians, allowing them to focus on caring for patients. Mike and his team’s powerful ability to put AI to work and their empathy for clinicians working in the hospital system makes Nexus the perfect vehicle to solve these problems.”

— James Tynan, Partner at Square Peg

Boilerplate

NexusMD is an AI technology company providing agentic AI solutions for healthcare, with headquarters in Melbourne, Australia. Its technology is designed to power Australian hospital ecosystems through a suite of AI agents that streamline clinical documentation, workforce coordination, and administrative workflows. NexusMD’s adaptable and modular approach enables tailored integration across hospital departments and systems.

Founded by Mike Zhu, former founder of Baikemy Net (acquired by ByteDance), NexusMD is backed by Square Peg. The company maintains enterprise-grade security and compliance standards, adhering to the Australian Privacy Principles (APP), HIPAA regulations, and ISO 27001 certification.

In the media

Investment note: NexusMD — A$6.3 million

Square Peg · June 2025

Medical AI agents startup NexusMD prompts $6.3 million Seed round from Square Peg

Startup Daily · June 2025

See NexusMD.ai across the whole pathway.

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