Mumbai-based healthcare AI startup, Qure.ai, is set to raise between $50-60 million in a new funding round led by venture capital firm Lightspeed.
This funding marks Lightspeed’s third major investment from its growth fund, following its investments in quick-commerce platform Zepto and edtech company PhysicsWallah.
The round is expected to include a secondary share sale and is likely to close within September 2024.
Key Highlights of the Funding Round:
- Investment Size: Lightspeed is expected to contribute around $20-25 million and is exploring secondary market purchases.
- Additional Participants: Existing investors such as Peak XV Partners, Healthquad, Novo Holdings, and MassMutual Ventures are also expected to participate in the primary funding round.
- Company Valuation: Qure.ai has raised approximately $60 million since its inception and was last valued at around $233 million.
About Qure.ai
Founded in 2016 by Prashant Warier and Pooja Rao, Qure.ai specializes in providing AI-powered solutions for medical image analysis, with a strong focus on improving diagnostic efficiency in healthcare.
The company’s AI algorithms can interpret X-rays, CT scans, and ultrasounds in under a minute, helping healthcare providers diagnose and triage critical cases faster.
Qure.ai’s mission is to make healthcare more accessible, affordable, and efficient by integrating cutting-edge AI technology into everyday medical practices.
Global Recognition and Certifications:
- The company’s tools are FDA-approved and CE-certified, and have been extensively evaluated by organizations like the World Health Organization (WHO).
- Qure.ai operates in over 50 countries, with its technology being widely adopted in hospitals and medical facilities for faster and more accurate diagnoses.
Vision and Future Plans
Qure.ai’s vision is to democratize healthcare by providing intelligent diagnostic tools that are accessible across the globe.
The company’s solutions are especially impactful in underserved regions where radiologists and medical imaging resources are scarce.
By leveraging AI, Qure.ai aims to bridge the gap in healthcare access and improve patient outcomes.
The new funding will primarily support global expansion, particularly in the US and Europe, where the company sees immense growth potential.
In addition to expanding its reach, Qure.ai will also focus on developing new AI products for critical care, emergency diagnostics, and community healthcare services.
Conclusion
With its innovative AI solutions and strong backing from investors, Qure.ai is well-positioned to transform the global healthcare landscape.
The upcoming funding round will not only boost the company’s valuation but also accelerate its mission of revolutionizing medical diagnostics and expanding access to high-quality healthcare worldwide.
