Gov. Ralph Northam announced March 11 that artificial intelligence technology company Zasti, Inc. will invest $5.9 million to establish its U.S. headquarters and operations in Loudoun County.
Zasti, Inc., which develops risk screening, predictive analytics, and climate change products for the healthcare industry, will use its new headquarters to develop and embed its AI platforms in diagnostic devices and enterprise IT systems to ensure product quality, supply chain security, and affordability.
Loudoun County competed with other surrounding jurisdictions for the project, which is expected to create 60 new jobs. The Board of Supervisors on March 16 is expected to approved spending $150,000 to match a grant awarded to the county from the commonwealth’s Opportunity Fund in support of the project. Also, the Virginia Jobs Investment Program will provide funding and services to support the company’s employee training activities.
The company will move into space in Ashbrook Commons in Ashburn.
Founded in 2017 and incubated at the Healthcare Technology Innovation Centre of the Indian Institute of Technology Madras, Zasti developed and validated its AI platform for three years in India and the U.K.
“Virginia represents a confluence of values, given its workforce diversity, commitment to the environment, and a strong academic research setting,” stated CEO Krish R. Krishnan. “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.”
“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,” stated County Chair Phyllis J. Randall (D-At Large) in announcing the deal. “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.”
“Building Loudoun’s international business development strategy has been one of my biggest priorities,” said Supervisor Matthew F. Letourneau (R-Dulles), who chairs 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.”
“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,” stated Supervisor Sylvia R. Glass (Broad Run). “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.”
“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,” Economic Development Executive Director Buddy Rizer said. “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.”
Northam hailed the expansion of the commonwealth’s tech and healthcare industries.
“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,” he stated.
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,” stated Sen. 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 Del. 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.”