Healthcare startup Qure.ai has raised $16 million in a funding round led by Sequoia India, it said on Thursday. MassMutual Ventures Southeast Asia, the investment arm of US-based life insurer MassMutual, also participated in the round.
Founded in 2016 by Prashant Warier and Pooja Rao, Qure.ai interprets radiology scans within seconds, reducing time to treatment in the critical moments of care.
It also claims to be the only solution in the industry to detect every critical brain abnormality on a head Computed Tomography including five types of intracranial hemorrhages, cranial fractures, infarcts, midline shift, and mass effect (for tumour detection).
Qure.ai was incubated in data analytics firm Fractal Analytics, which is currently valued at over $500 million.
Qure.ai is present in over 20 countries with a database of over seven million scans.
“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," said Warier, who is also the CEO of Qure.ai. “This funding round will allow us to further invest into research and development, and to expand the reach of our solutions, accelerating our mission of delivering accessible and affordable healthcare," he added.
“Medical imaging is one of the fields in healthcare where there is enough digitized data to turn the promise of artificial intelligence 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," said Anjana Sasidharan, principal, Sequoia.