Qure.ai, an Indian healthtech business that employs artificial intelligence for medical imaging diagnostics, has raised US$40 million in a series C fundraising round headed by Novo Holdings and HealthQuad, with current investor MassMutual Ventures participating.
The funds will be used to expand the startup’s worldwide reach and to accelerate product development for critical care and community diagnostics.
“We are very pleased to join the outstanding team at Qure.ai and to contribute to their efforts of providing world-class AI solutions in the imaging space, for the benefit of patients worldwide,” said Dr. Amit Kakar, Senior Partner, Head of Novo Holdings Equity Asia.
HealthQuad’s Chief Investment Officer, Charles Antoine Janssen stated that Qure.ai’s technologies adhered to the most stringent international standards and had made high-quality and accessible care a reality.
Founded in 2016 by Prashant Warier and Pooja Rao, Qure.ai’s unique technology analyses and interprets medical images such as X-rays, CT scans, and ultrasounds in a short span of time. The US Food and Drug Administration has accepted Qure’s solutions, which have also been authorized by the European Commission and examined by the World Health Organization.
Its medical imaging capabilities save diagnostic time while also allowing clinicians to better priorities medical patients in time-sensitive scenarios. This allows healthcare practitioners to recognize crucial circumstances in minutes, preventing fatalities, according to Qure.
According to the business, their technology is utilized as the initial step of screening for numerous infections and non-communicable diseases such as TB and lung cancer in areas where qualified doctors may not be accessible.
“Every year, our technology benefits almost four million individuals in 50 nations.” Qure’s CEO and creator, Prashant Warier, stated, “Our objective is to continue to be aggressive in our market development, especially in the US and Europe. We are committed to aiding healthcare professionals in diagnosing illnesses faster and with more detail and accuracy while automating most of the routine work. This is a win for all involved in healthcare, especially for patients across the globe who will benefit from vastly improved health outcomes,” he added.
Qure.ai had secured US$16 million funding in a round headed by Sequoia India in 2020.