Qure.ai, a Mumbai-based health tech firm specializing in artificial intelligence, has raised $65 million in Series D funding. The company uses the funds to accelerate its expansion into the US and other international markets, increase foundational AI model development, and acquire complementary med-tech firms.
The round also saw the involvement of new strategic and financial investors, including Lightspeed and 360 ONE Asset, which are accompanied by respective involvement by the Merck Global Health Innovation Fund and Kae Capital, along with Novo Holdings, Health Quad, and TeamFund. This reflects high confidence in Qure.ai’s vision and growth potential.
Qure.ai was established in 2016 to make healthcare more accessible and equitable globally. Its AI solutions have been deployed in over 90 countries, with more than 3,000 healthcare sites, for efficient identification and management of critical diseases. Qure.ai operates regional offices in New York, London, and Dubai.
Prashant Warier, co-founder and CEO of Qure.ai, emphasized that his company is a major medical imaging partner for hospitals and health organizations worldwide. “Our work is focused on unlocking clinical efficiencies and improving care for patients, particularly regarding tuberculosis, lung cancer, and stroke,” he said.
According to Warier, AI can solve some of the health sector is major challenges, such as imaging report backlogs and low screening rates. Not only developed nations but also developing countries with resource constraints can reap rewards from this.
Qure.ai partners with half of the world’s top 20 pharmaceutical and medtech companies, such as AstraZeneca, Medtronic, and Johnson & Johnson, to accelerate early diagnosis and timely treatment of various diseases. “This Series D round is a significant milestone in our journey and will propel us toward reaching a billion patients with our solutions,” Warier added.
Dev Khare, Partner, Lightspeed, says Qure.ai has already reached a level of specificity and sensitivity similar to the level that radiologists and physicians can reach. He said the impact is immense, not just in that quality healthcare becomes more accessible in the US and Europe, but in Asia, Africa, and Latin America.
Qure.ai aims to achieve its mission, according to Fund Manager Tarun Sharma of 360 ONE Asset: “It is a great opportunity. That’s something that can change healthcare outcomes, especially for diseases with high mortality rates, such as lung cancer, and the difference in early diagnosis and promptness of treatment could be substantial.”
