Sequoia India has led a $16 million funding round in AI-based healthcare start-up Qure.ai. MassMutual Ventures Southeast Asia also participated in the round. Qure.ai will use the capital to drive geographical expansion, expand product portfolio in two more areas and support regulatory clearances.
“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 at Sequoia Capital India. “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.” The venture capital firm has so far invested in over a dozen healthcare startups such as OncoStem and MedGenome,
Founded in 2016 by Prashant Warier and Pooja Rao, Qure.ai today has a presence in over 20 countries across Asia, Africa and Latin America and has impacted over 600,000 lives. Using artificial intelligence developed on a database of over seven million scans, Qure.ai solutions provide swift and accurate interpretations of radiology scans within seconds, reducing time to treatment in the critical moments of care.
“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.” said Warier, who is a data scientist with hands-on experience of about 20 years.
Warier claims Qure.ai’s solutions can detect every critical brain abnormality on a head CT including five types of intracranial hemorrhages, cranial fractures, infarcts, midline shift, and mass effect for tumor detection. Its chest X-ray automation helps generate chest X-ray interpretation reports, detect tuberculosis, chronic obstructive pulmonary diseases, lung malignancies and medical emergencies like lung collapses and cardiac disorders.