AI healthcare firm Qure.ai completes $65 mn Series D funding round
Prashant Warier, Co-founder and CEO of Qure.ai. JPG
Qure.ai, an AI-led healthtech company, said it has completed a $65 million Series D funding round. The investment will expedite expansion into the US market and other geographies, increase investment into foundational AI models, and enable complementary med-tech company acquisitions.
The Series D round saw the participation of new strategic and financial investors led by Lightspeed and 360 ONE Asset, joined by Merck Global Health Innovation Fund and Kae Capital. Existing investors, including Novo Holdings, Health Quad, and TeamFund, also participated in the round.
Founded in 2016, Mumbai-headquartered Qure is on a mission to make healthcare more accessible and equitable globally. This has driven its AI solution development. The firm’s solutions are deployed in over 90 countries across more than 3,000 sites for efficient identification and management of critical diseases. It has regional offices in New York, London, and Dubai.
“We are a medical imaging AI partner to hospitals and healthcare organisations around the world. Our work is helping to unlock clinical efficiencies and drive up the standard of care delivered to patients in the focus areas of TB, lung cancer, and stroke,” said Prashant Warier, co-founder and chief executive officer of Qure.ai. “AI helps to overcome healthcare bottlenecks, from imaging reporting backlogs and low screening uptakes to workforce resource constraints, not just in western societies like the US and Europe, but in developing nations too.”
The firm also collaborates with half of the top 20 pharma and medtech companies, including AstraZeneca, Medtronic, and J&J, to accelerate early diagnosis and timely treatment of diseases.
“This Series D round is a step forward in our journey and will propel us towards our mission to reach a billion patients through our solutions,” said Warier.
Dev Khare, partner, Lightspeed, said, “With diagnostic specificity and sensitivity at levels rivalling radiologists and physicians, Qure is making quality healthcare accessible in the US and Europe as well as globally in Asia, Africa, and Latin America.”
“We believe that the most meaningful impact of AI can be in healthcare, and Qure is leading the way in making that a reality,” said Tarun Sharma, fund manager at 360 ONE Asset. “Its work on helping detect and diagnose TB in real-time in low-resource and high-disease burden regions across the world has the potential for massive impact. In high-mortality diseases like lung cancer, by enabling earlier diagnosis and treatment, Qure can be transformational in improving clinical outcomes.”
First Published: Sep 25 2024 | 11:03 PM IST