Qure raises $65 million to build AI-powered disease-detection products

The company plans to use the funds raised to expand in the US and other markets, improve GenAI foundation models and fund acquisitions.

With this funding, the company will be able to focus on developing AI-based products that will help detect diseases.

Founded in 2016 by Prashant Warier, Qure.ai uses AI for diagnostic imaging. It basically uses AI to detect brain injuries, chest diseases and more

A startup from the medical technology industry Qure.ai reportedly raised $65 million (INR 543 million) in a Series D funding round co-led by Lightspeed Venture Partners and 360 ONE Asset Management.

Merck Global Health Innovation Fund and Kae Capital, as well as existing investors Novo Holdings, Health Quad and TeamFund, also participated in the financing round.

According to a Bloomberg report, it plans to use the fresh revenue to expand in the U.S. and other markets, improve its GenAI foundation models, and fund acquisitions. With this funding, the company will focus on developing its AI-based products to help detect diseases.

This comes a week after Inc42 reported that the startup I want to raise $50-60 million in funding led by Lightspeed.

Founded in 2016 by Prashant Warier, Qure.ai leverages AI for diagnostic imaging. It essentially uses AI to detect brain injuries, chest diseases, and more.

The company says its algorithm can detect clinically significant abnormal injuries from X-rays, CT scans and MRIs in a fraction of the time it typically takes doctors.

The Mumbai-based company is backed by such well-known names as Fractal Analytics and Sequoia Capital.

Prashant Warier, co-founder and CEO of Qure.AI, told Bloomberg that AI is helping to overcome bottlenecks in healthcare, with the technology increasingly being used in areas such as drug discovery, hospital patient management and surgical robotics.

The Indian medical technology industry is going through a significant period transformation driven by digital health adoption, AI integration, and the rise of wearable technologies. AI is revolutionizing medical diagnostics and treatment, with startups and large companies investing in this space.

For example, last month, medical technology startup SigTuple acquired USD 4 million (over INR 33.5 million) in an extended Series C funding round led by Sidbi Venture Capital to expand its product portfolio and step up its expansion efforts.

In the same month, online healthcare provider Visit Health was awarded 250 Cr INR (Almost 29.8 Million USD) from Docprime Technologies, a subsidiary of PB Fintech, through a combination of recapitalization and secondary share purchase.

Meanwhile, Innovaccer, one of the largest players in the medical technology industry, was in talks with US insurance and healthcare giant Kaiser Permanente to raise capital Financing in the range of USD 200-250 million, in the form of a mix of primary and secondary capital.