NEW YORK, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Qure.ai, a global healthcare AI innovator, has announced the completion of a $65 million Series D funding round. The investment will expedite expansion into the US market and other geographies, increase investment into foundational AI models and enable complementary med-tech company acquisitions.
The Series D round saw the participation of new strategic and financial investors led by Lightspeed and 360 ONE Asset, joined by Merck Global Health Innovation Fund and Kae Capital. Existing investors also participated in the round, including Novo Holdings, Health Quad, and TeamFund.
Founded in 2016, Qure.ai is on a mission to make healthcare more accessible and equitable globally. This has driven its AI solution development, positioning the company as the world’s most deployed healthcare AI. Qure.ai solutions are deployed in over 90 countries across 3000+ sites, powering the efficient identification and management of critical diseases. The company has 18 FDA-cleared indications, and its products are Class IIb certified per EU MDR* regulations. Qure.ai is headquartered in Mumbai, with regional offices in New York, London, and Dubai.
Dev Khare, Partner, Lightspeed, said, "We are excited to back Prashant and his exceptional team at Qure.ai, a true leader in AI-driven healthcare diagnostics. With diagnostic specificity and sensitivity at levels rivaling radiologists and physicians, Qure is making quality healthcare accessible in the US and Europe as well as globally in Asia, Africa and Latin America."
“We are thrilled to partner with Qure.ai on its mission to revolutionize patient care for critical conditions like TB, Lung Cancer and Stroke. We believe that most meaningful impact of AI can be in healthcare and Qure is leading the way in making that a reality. Its work on helping detect and diagnose TB in real-time in low-resource and high-disease burden regions across the world has the potential for massive impact. In high mortality disease like Lung Cancer, by enabling earlier diagnosis and treatment Qure can be transformational in improving clinical outcomes. We look forward to joining Prashant and his team in the next exciting phase of the growth journey,” said Tarun Sharma, Fund Manager at 360 ONE Asset.
“Qure.ai has become a trusted medical imaging AI partner to hospitals and healthcare organisations around the world. Our work is helping to unlock clinical efficiencies and drive up the standard of care delivered to patients in the focus areas of TB, Lung Cancer and Stroke”, said Prashant Warier, Co-founder and CEO of Qure.ai. “AI helps to overcome healthcare bottlenecks, from imaging reporting backlogs and low screening uptakes to workforce resource constraints, not just in western societies like the US and Europe, but in developing nations too. We also collaborate with half of the top 20 Pharma and MedTech companies including AstraZeneca, Medtronic, and J&J, to accelerate early diagnosis and timely treatment of diseases. This Series D round is an exciting step forward in our journey and will propel us forward in our mission to reach a billion patients through our solutions.”
*Regulatory clearances vary by region
For Media Queries
Georgina Wright - georgina.wright@qure.ai
Amrutha Joseph - amrutha.joseph@qure.ai
