Qure.ai raises $16m to fund market expansion

Chloe Kent 27 February 2020 (Last Updated February 27th, 2020 11:39)

Medical imaging artificial intelligence (AI) start-up Qure.ai has raised $16m in a funding round led by Sequoia India and supported by MassMutual Ventures Southeast Asia.

Qure.ai raises $16m to fund market expansion
Qure.ai’s chest X-ray interpretation solution is able to accurately interpret chest X-rays to help detect medical emergencies like lung collapses and cardiac disorders. Credit: Shutterstock

Medical imaging artificial intelligence (AI) start-up Qure.ai has raised $16m in a funding round led by Sequoia India and supported by MassMutual Ventures Southeast Asia.

The money will be used to drive Qure.ai’s geographical expansion, expand its product portfolio and support regulatory clearances.

Qure.ai has trained its AI 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 resource-limited settings where an expert interpreter may not be available. The company’s solutions are all CE marked.

Qure.ai founder and CEO 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 into R&D and to expand the reach of our solutions, accelerating our mission of delivering accessible and affordable healthcare to every human being.”

The Mumbai-based company said its software for the interpretation of computed tomography (CT) scans of the head, called qER, is the only solution in the industry able to detect every critical brain abnormality on a head CT, including five types of intracranial haemorrhages, cranial fractures, infarcts, midline shifts and mass effects for tumour detection.

Qure.ai’s chest X-ray interpretation solution, qXR, is able to accurately interpret chest X-rays to help detect tuberculosis, chronic obstructive pulmonary diseases, lung malignancies and medical emergencies like lung collapses and cardiac disorders.

Sequoia Capital India principal Anjana Sasidharan said: “Medical imaging is one of the fields in healthcare where there is enough digitised 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.”