Qure.ai raised US$16M Fund led by Sequoia for qRX AI that detects tuberculosis and other common abnormalities, as well as Head Scans
Qure.ai, a startup developing AI that analyzes scans of head and chest areas for abnormalities, has disclosed US$16 million in venture funding led by Sequoia India –a venture capital firm specializing in investments.
Chief Executive Officer and Co-Founder Prashant Warier said Qure.ai will be using the fresh fund to expand its geographical expansion, amplify product portfolio, and support regulatory clearances.
“This funding round will allow us to further invest in 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 stated.
Qure.ai innovated qXR – a cost-effective chest X-ray that detects multiple chest abnormalities and generates focus areas through AI.
In a statement, Prashant Warier said, “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.”
According to the Center for Disease Control and Prevention, over 10.4 million individuals were suffering from tuberculosis since 2016, out of 10.4 there are over 1.7 million individuals who died due to resulting complications especially suburbs with insubstantial clinic access, this pushed Qure.ai to pioneer qXR.
The AI model at the heart of qXR requires just “milliseconds” to process X-rays and identify up to 15 common abnormalities. This includes certain cardiac disorders, lung malignancies in high-risk populations, and COPD, in addition to tuberculosis.
“Our (Quer.ai) 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,” Prashant Warier added.
The Healthcare AI startup was founded in 2016 by Prashant Warier and Dr. Pooja Rao. Qure.ai asserts to provide fast and accurate interpretations of radiology scans within seconds, reducing time to treatment.
Qure.ai is originally headquartered in Mumbai and operates as well in San Francisco and New York. The company attests that its technology are all CE certified and can detect every critical brain abnormality on a head CT scan.
Qure.ai’s head CT includes five types of intracranial hemorrhages, infarcts, cranial fractures, midline shift, and mass effect (for tumor detection).
Principal at Sequoia Capital India LLP, Anjana Sasidharan said, “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.”
Sasidharan complimented Qure.ai for its ability to deploy commercially at scale across multiple countries, unlike its rival companies who have failed to do.
Ryan Collins, Managing Director, MassMutual Ventures SEA expressed his excitement to work with Qure.ai as well, saying it has improved 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,” Collins said.