Artificial intelligence company Qure.ai raises $40 million in its recently held funding round led by Novo Holdings and HealthQuad. Existing investors like MassMutual Ventures also participated in the funding round.
The company says it plans to use the fresh funds to further accelerate its product development process and expand into other markets, including the United States and Europe.
With powerful technology that reads and interprets medical images like X-rays, CT scans, and ultrasounds in less than a minute, Qure.ai has earned a reputation in the market by providing top-notch technology-enabled healthcare solutions for people across the globe.
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The company has also received certifications and approvals from FDA, CE, and the World Health Organization, assuring the quality of Qure.ai’s products. Last year, Qure.ai got its second clearance from the FDA of the United States for its brain CT scan artificial intelligence quantification product qER-Quant.
Head of Novo Holdings Asia, Dr. Amit Kakar, 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.”
He further added that they are thrilled to join Qure.ai’s amazing team and contribute to their efforts to provide world-class AI solutions in the imaging domain for the benefit of patients worldwide.
Mumbai-based health tech startup Qure.ai was founded by Prashant Warier and Pooja Rao in 2016. The firm specializes in developing deep learning and artificial intelligence solutions to aid physicians with diagnosis and routine treatments of patients. To date, Qure.ai has raised more than $60 million over three funding rounds.
Co-founder and CEO of Qure.ai, Prashant Warier, said, “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.”
He also mentioned that they are dedicated to assisting healthcare practitioners in identifying illnesses faster, more accurately, and with greater information while automating the majority of the mundane job.