Exclusive: Sequoia-backed 🩺 firm raises additional series C funding

Qure, an India-based healthtech startup, has raised an undisclosed sum in additional funding for its series C round from Merck, Sharp & Dohme (MSD), a US-based multinational pharmaceutical company.

Last month, Qure raised US$40 million in the same round led by Novo Holdings and HealthQuad, with participation from MassMutual Ventures.

Qure co-founder and CEO Prashant Warier / Photo credit: Qure

Qure provides AI-based solutions to help medical professionals. For instance, it has a qXR solution that aims to help detect multiple abnormal findings on a chest X-ray. It has similar solutions for head and chest CT scans, ultrasounds, and other procedures.

The healthtech firm’s offerings are available in 50 countries and deployed at more than 500 locations. It has 80 customers, including the National Health Service in the UK.

Founded in 2016 by data scientists Prashant Warier and Pooja Rao, Qure was incubated by Fractal Analytics, an AI-focused data analytics firm.

Warier, who also serves as the CEO of Qure, told Tech in Asia that the funding, including the investment from MSD, is aimed at the commercial expansion of the firm, which involves hiring more sales staff in international markets.

The CEO said that the company focuses on the US, the UK, and Middle East markets. The firm is looking to expand its presence in Europe, and it is also setting up a local entity in Dubai.

In addition to sales and expansion, the healthtech firm will invest in getting the requisite regulatory clearances in international markets. The company is also open to using the capital to acquire a few companies, Warier added.

See also: How Indonesia’s healthtech startups aim to democratize access to healthcare

Qure’s new fundraise comes nearly two years after it secured US$16 million in a series B round led by Sequoia India, which saw participation from MassMutual Ventures Southeast Asia.