Qure.ai gets $40 million from Novo Nordisk, others – ET HealthWorld

Bengaluru: Qure.ai, a health tech firm using AI for medical imaging diagnostics, has raised $40 million in a funding round led by Novo Holdings and HealthQuad, with participation from existing investor MassMutual Ventures. Novo Holdings is owned by the Novo Nordisk Foundation. HealthQuad is an India-based digital health focused venture capital fund with $200 million of assets under management across two funds.

Qure.ai has two flagship products—qER and qXR—in combating TBI and lung disease. The qXR tool delivers automated chest x-ray interpretation. The technology accurately detects abnormal chest x-ray findings and can be used to distinguish between normal and abnormal x-ray findings, for pre-read assistance, or as a radiology audit tool.

The qER tool (for TBI and stroke detection) can detect intracranial hemorrhages, subdural bleeds, midline shift, and mass effect (for tumor detection) to offer quick and accurate head CT scan analysis. It has 32 collective peer review journals and conference papers under its belt, including a review in The Lancet.

Qure.ai reads and interprets medical images like X-rays, CTs, and ultrasounds in less than a minute. Its AI solutions are FDA-approved, CE-certified, and evaluated by the World Health Organisation.

Prashant Warier, CEO and founder of Qure.ai, said, “In the last two years, we have received 3 FDA clearances across 12 different capabilities and CE certifications across all our products and scaled 10-15 times in terms of revenue. We are present in 50 countries touching 4 million lives on an annualized basis. We have around 100 products and we plan to expand our footprint organically and inorganically,” he said.

Amit Kakar, senior partner, head of Novo Holdings Equity Asia, said, “Qure.ai is enabling access to healthcare and diagnosis of crucial ailments TB, stroke, lung nodules leading to lung cancer and that combination at the intersection of healthcare and tech is something that made Qure.ai extremely attractive to us from an investment perspective,” he said.

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