[Funding News] Qure.ai to Raises $60 Mn Funding Round

Qure.ai, a Mumbai-based startup in the medtech industry, is reportedly seeking to raise approximately $50-60 million in a funding exercise to be headed by Lightspeed, as the medtech industry continues to expand due to the rapid digitalization and automation.

The infusion is expected to consist of a secondary transaction and primary capital contributions from existing investors.

A source was quoted in the report as stating that the investment will be finalized by the end of the month.

Qure.ai employs artificial intelligence to facilitate medical imaging diagnostics. In essence, it employs artificial intelligence to identify a variety of conditions, including cerebral trauma and chest diseases.

The company asserted that its algorithm can identify clinically pertinent abnormal trauma from X-rays, CT scans, and MRIs in a fraction of the time that doctors typically require.

Fractal Analytics and Sequoia Capital are among the prominent investors in the Mumbai-based organization.

Read also - Condiments Brand Kaatil Secures Seed Funding Round

The investment is made at a time when the pharmaceutical industry is experiencing a surge in interest in the adoption of AI.

Healthtech companies have also been receiving a few investments, as they follow the trend of raising capital through secondary funding that is distributed across a variety of business sectors.

About Qure.ai

Founded in 2016 by Pooja Rao and Prashant Warier, Qure.ai is a health tech company that uses deep learning and Artificial Intelligence (AI) to make healthcare more accessible and equitable for patients worldwide.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.