Qure.ai announced today that it closed a funding round worth $40 million as it looks to extend the global reach of its diagnostic offerings.
Mumbai-based Qure.ai develops artificial intelligence (AI)-powered technology designed to read and interpret medical images (such as x-rays, CT scans and ultrasounds) in less than one minute.
The FDA-cleared and CE-marked AI solutions can shorten the time to diagnosis while enabling physicians to triage medical cases more effectively, particularly in time-sensitive situations, Qure.ai said in a news release.
Novo Holdings and HealthQuad led the financing while existing investor MassMutual Ventures also supported the round. Qure.ai plans to use the funds to strengthen its global reach, particularly in the U.S. and Europe, while also intensifying product development for critical care and community diagnostics.
“Our goal is to continue being bullish in our market expansion, especially in the U.S. and Europe,” Qure.ai founder and CEO Prashant Warier said in the release. “We are committed to aiding healthcare professionals in diagnosing illnesses faster and with more detail and accuracy while automating most of the routine work. This is a win for all involved in healthcare, especially for patients across the globe who will benefit from vastly improved health outcomes.”