Qure.ai raises $16 million

Qure.ai has raised $16 million in a funding round led by Sequoia India and supported by MassMutual Ventures Southeast Asia.

Founded in 2016 by Prashant Warier and Dr. Pooja Rao, and incubated by Fractal, Qure.ai provides fast and accurate interpretations of radiology scans within seconds, powered by AI developed on a database of over 7 million scans. The company, which has presence in over 20 countries, offers two main solutions: a head CT product which can detect every critical brain abnormality, and chest X-ray automation and interpretation, which can detect tuberculosis, chronic obstructive pulmonary diseases, lung malignancies and medical emergencies like lung collapses and cardiac disorders.

“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.” – Prashant Warier, cofounder & CEO of Qure.ai.

“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 don’t always translate to robust commercial products.” – Anjana Sasidharan, Principal at Sequoia Capital India LLP.

“We are excited to partner with Qure.ai, improving access, efficacy and efficiency in clinical care. Very few companies in this category have achieved this level of both academic and real-world validation, and Qure.ai is leading across multiple use-cases and modalities.” – Ryan Collins, Managing Director, MassMutual Ventures SEA.

Qure.ai has been incubated by Fractal, an AI & analytics leader serving Fortune 100 companies. “Conceptualizing and incubating Qure.ai has been a matter of great satisfaction and pride for us. Prashant and Pooja have assembled a brilliant team that’s committed to making healthcare accessible and affordable through AI. I am especially excited about the open research approach that Qure.ai has adopted and its focus on real world validation.” – Srikanth Velamakanni, Co-Founder of Fractal and Chairman, Qure.ai.

Bottom Line: Google is also in the space.