Qure.ai, a Mumbai based healthcare AI startup, has now revealed that it has secured $16 million in the funding round led by the Sequoia India and was supported by the MassMutual Venture SouthEast Asia.
The funds will be going to be used to expand the Qure.ai product portfolio, regulatory clearance, and geographical expansion.
Speaking of its growth and funding, Prashant Warier, Co-founder and CEO, Qure.ai, in a press statement 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.”
The company which is founded by the Pooja Rao and Prashant Rao in 2016, Qure.ai, has impacted more than 600000 lives. With the AI on a database of over seven million scans, the platform has also claimed to provide fast and accurate interpretations of radiology scans within seconds, reducing the time to treatment in the critical moment of care.
Speaking on the funding, Anjana Sasidharan, Principal at Sequoia Capital India LLP, 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 its expert team of data scientists and physicians, positions the startup very well versus its global competitors. What sets it apart is its ability to deploy commercially at scale across multiple countries; something many others have failed to do as strong algorithms don’t always translate to robust commercial products.”