OpenAI buys small startup Torch for $100 million

OpenAI announcement it acquired a small startup called Torch for an undisclosed amount. An anonymous source told The Information that OpenAI paid $100 million in equity for the startup. Torch’s four-person team joins OpenAI, both companies said.

Torch was working on an app that combined all of a person’s medical information for use by AI from a range of sources such as doctor visits, lab tests, wearables and other portals, including consumer wellness tests and more. The Torch team called its technology “medical memory for AI, unifying scattered records into a contextual engine.”

The Torch team met while working at Forward Health, Torch co-founder Ilya Abyzov said in a post on X. Forward was known for its medical practices powered by AI. He abruptly closed at the end of 2024 after raising more than $400 million.

This acquisition means a different fate. The team and its technology will be part of the OpenAI project Recently announced ChatGPT Healtha service for people using chatbot to analyze and manage their health.