The company, which uses artificial intelligence (AI) for medical imaging diagnostics, will use the capital to extend and strengthen its global reach, especially in the US and Europe, and intensify product development for critical care and community diagnostics, it said.
Qure.ai, incubated in data firm Fractal Analytics had raised $16 million in a funding round led by Sequoia India in February 2020.
Founded in 2016 by Prashant Warier and Pooja Rao, Qure.ai offers advanced technology that reads and interprets medical images like X-rays, CTs, and Ultrasounds in less than a minute, making equitable and high-quality healthcare a reality across the globe.
“Qure.ai’s automated medical imaging tools can shorten the time to diagnosis while enabling physicians to triage medical cases more effectively, especially in time-sensitive situations. This helps healthcare providers identify critical scenarios within minutes — versus hours — to avert fatalities and improve the quality of patient care. In other settings, where adequate, skilled specialists may not be available, Qure’s technology is used as the first level of screening for many infections and non-communicable conditions,” the release said.
“Qure.ai is at the forefront of transforming diagnostics in both acute and chronic ailments, which is fully aligned with our mission of advancing high-quality and accessible healthcare using innovation and digitization. Further, we are excited to connect Qure.ai to our portfolio partners as we see several promising synergies,” said Dr Amit Kakar, Senior Partner, Head of Novo Holdings Equity Asia.
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Novo Holdings is a global healthcare and life sciences investor.
“Qure’s world-class AI technologies adhere to the most stringent international standards, and have made high-quality, accessible care a reality. We remain committed to collaborating with innovative firms that work to improve global healthcare infrastructures,” said Charles – Antoine Janssen, Chief Investment Officer, HealthQuad.
“Every year our technology helps more than four million people across 50 countries. Our goal is to continue being bullish in our market expansion, 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,” said Prashant Warier, cofounder and CEO, Qure.ai.