Qure.ai, a health tech firm that uses artificial intelligence for medical imaging diagnostics, said on March 29 that it raised $40 million in a funding round led by Novo Holdings and HealthQuad. The round also saw the participation of existing investor MassMutual Ventures.
The funds raised would be used for intensifying product development for critical care and community diagnostics and also strengthening the company's global reach.
"Every year our technology helps more than four million people across 50 countries. Our goal is to continue being bullish in our market expansion, especially in the US and Europe,” Founder-CEO Prashant Warier said.
Fractal Analytics and Sequoia Capital are among the other investors in the startup that uses advanced technology to read and interpret medical images like X-rays, CT scans, and ultrasounds in less than a minute.