It plans to use the fresh proceeds to expand in the US and other markets, improve its GenAI foundation models, and fund acquisitions
With this funding, it will focus on developing its AI-based products to aid in disease detection
Founded in 2016 by Prashant Warier, Qure.ai uses artificial intelligence assistance for medical imaging diagnostics. Essentially, it uses AI to detect brain trauma, chest diseases, among others
Medtech startup Qure.ai
has reportedly raised $65 Mn (INR 543 Cr) in a Series D funding round co-led by Lightspeed Venture Partners and 360 ONE Asset Management.
The round also saw participation from Merck Global Health Innovation Fund and Kae Capital, along with existing investors Novo Holdings, Health Quad and TeamFund.
As per a Bloomberg report, it plans to use the fresh proceeds to expand in the US and other markets, improve its GenAI foundation models, and fund acquisitions. With this funding, it will focus on developing its AI-based products to aid in disease detection.
This comes a week after Inc42 reported that the startup is looking to raise $50-60 Mn in a funding exercise to be led by Lightspeed.
Founded in 2016 by Prashant Warier, Qure.ai uses artificial intelligence assistance for medical imaging diagnostics. Essentially, it uses AI to detect brain trauma, chest diseases, among others.
The company claimed that its algorithm can detect clinically relevant abnormal trauma from X-rays, CT Scans and MRIs in a fraction of the time that doctors typically take.
The Mumbai-based company is backed by marquee names like Fractal Analytics and Sequoia Capital.
Prashant Warier, Qure.AI’s cofounder and chief executive officer, told Bloomberg that AI is helping overcome healthcare bottlenecks. The technology is increasingly being used in areas such as drug discovery, patient management in hospitals, and surgical robotics.
India’s medtech industry is undergoing a significant transformation driven by digital health adoption, AI integration, and the rise of wearable technology. AI is revolutionising medical diagnostics and treatment, with startups and large firms investing heavily in this space.
For instance, last month, medtech startup SigTuple raised $4 Mn (over INR 33.5 Cr) in an extended Series C funding round led by Sidbi Venture Capital to ramp up its product portfolio and expansion efforts.
In the same month, online healthcare service provider Visit Health secured INR 250 Cr (nearly $29.8 Mn) from PB Fintech’s arm, Docprime Technologies, through a mix of capital infusion and secondary share purchase.
Meanwhile, healthtech unicorn Innovaccer was in talks with the US-based health and insurance major Kaiser Permanente to raise a funding in the range of $200 Mn-$250 Mn, in a mix of primary and secondary capital.
By Inc42 Media
Source: Inc42 Media