Qure.ai secured $16M in Funding round led by Sequoia India

Qure.ai, a Mumbai based healthcare AI startup, has secured $16 Million in the funding.

The latest funding round was led by the Sequoia Capital India. MassMutual Ventures Southeast Asia also participated in the round, notes the announcement.

Qure.ai was founded by the Pooja Rao and Prashant Warier in 2016. The startup builds AI systems that assist doctors in reading X-rays and CT scans. The startup head CT Product (qER) is a triage aid designed to prioritize and notify the critical head CT scans.

The company chest X-ray automation and interpretation solution is a CE certified automated chest X-ray interpretation tool that screens for abnormalities and tuberculosis.

Executive Opinion

Co-Founder & CEO of Qure.ai, Prashant Warier, said, "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. Our products ensure that life-saving treatments can be delivered to patients, even in remote locations, in a fraction of the time required for traditional scan interpretation. This funding round will allow us to further invest in R&D, and to expand the reach of our solutions, accelerating our mission of delivering accessible and affordable healthcare to every human being."

Principal at Sequoia Capital India LLP, Anjana Sasidharan, 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. What sets them apart is their ability to deploy commercially at scale across multiple countries; something many others have failed to do as strong algorithms doesn’t always translate to robust commercial products."

Qure.ai's focus areas for New Funds

Qure.ai plans to leverage newly raised funds to expand its product portfolio, regulatory clearances, and geographical expansion.

The company has trained its Artificial Intelligence system on a database of over seven million radiology scans to interpret new images within seconds.

The company aims to reduce time to care for patients and make healthcare more accessible in resources limited settings where an expert interpreter may not be available.