The Mumbai-based healthcare startup qure.ai has raised $40 million in a funding round led by Novo Holdings and HealthQuad. The round also saw the participation of existing investor Mass Mutual Ventures.

Affordable healthcare

The company uses Artificial Intelligence (AI) to make healthcare more accessible and affordable. It will utilise the fresh capital to extend and strengthen the global reach, especially in the US and Europe, and also intensify product development.

Commenting on the development Prashant Warier, CEO and Founder, Qure.ai, said, “Our goal is to continue being bullish in our market expansion, especially in the US and Europe. We are committed to aiding healthcare professionals in diagnosing illnesses faster and with more detail and accuracy while automating most of the routine work.”

The company founded in 2016 taps deep learning technology that reads and interprets medical images like X-rays, CTs, and Ultrasounds in less than a minute, making equitable and high-quality healthcare a reality across the globe.

Qure.ai founded by Prashant Warier and Pooja Rao had raised $16 million in 2020 in a round by Sequoia Capital and Mass Mutual Ventures.

HealthQuad is India’s leading digital health-focused venture capital fund with assets under management of $200 Mn across two funds. Its focus is to nurture innovative models which radically improve healthcare access and affordability by leveraging technology.