Qure.ai , a leading healthcare AI startup, announced that it has raised $16 mn in a funding round led by Sequoia India and supported by MassMutual Ventures Southeast Asia.
The company will utilise the funds to drive geographical expansion, expand product portfolio and support regulatory clearances.
Prashant Warier, co-Founder and CEO, Qure.ai, commented, “We are proud to have taken our solutions beyond the research stage to actually impacting patient lives across more than 200 locations in 20 countries. This funding round will allow us to further invest into R&D and to expand the reach of our solutions, accelerating our mission of delivering accessible and affordable healthcare to every human being.”
Qure.ai was founded in 2016 by Prashant Warier and Pooja Rao, and incubated by Fractal. Today, the company has presence in over 20 countries and has impacted over 600,000 lives. Using artificial intelligence developed on a database of over 7 million scans, Qure.ai solutions provide fast and accurate interpretations of radiology scans within seconds, reducing time to treatment in the critical moments of care.
Anjana Sasidharan, Principal at Sequoia Capital India LLP, said, “Medical imaging is one of the fields in healthcare where there is enough digitized data to turn the promise of AI into a reality. The sophistication of Qure.ai’s algorithms and predictive analytics tools, coupled with their expert team of data scientists and physicians positions them very well versus their global competitors.”
Ryan Collins, Managing Director, MassMutual Ventures SEA, commented on the investment, “We are excited to partner with Qure.ai, improving access, efficacy and efficiency in clinical care. Very few companies in this category have achieved this level of both academic and real-world validation, and Qure.ai is leading across multiple use-cases and modalities.”
Srikanth Velamakanni, Co-Founder of Fractal and Chairman, Qure.ai, said, “Prashant and Pooja have assembled a brilliant team that’s committed to making healthcare accessible and affordable through AI. I am especially excited about the open research approach that Qure.ai has adopted and its focus on real world validation.”
The company has partnered with Incepto, which is one of Europe’s leading producers and providers of medical artificial intelligence solutions. The partnership helped the company in making its tools accessible to countries like France, Belgium and Switzerland via Incepto.
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