Sequoia-backed 🩺 startup raises $40m series C money

Qure, an India-based healthtech startup that uses AI for medical imaging diagnostics, has secured US$40 million in a series C funding round led by Novo Holdings and HealthQuad, with participation from existing investor MassMutual Ventures.

Qure founder and CEO Prashant Warier / Photo credit: Qure

The startup will use the funding to strengthen its global reach and intensify product development for critical care and community diagnostics.

Qure has patented technology that reads and interprets medical images like X-rays, CT scans, and ultrasounds in less than a minute. Its solutions are approved by the US Food and Drug Administration, certified by the European Commission, and evaluated by the World Health Organization.

Its medical imaging tools shorten the time needed for diagnosis while enabling physicians to triage medical cases more effectively in time-sensitive situations. This helps healthcare providers identify critical scenarios within minutes to avert fatalities, said Qure in a statement.

The company added that in settings where skilled specialists may not be available, its technology is used as the first level of screening for many infections and non-communicable conditions such as tuberculosis and lung cancer.

“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,” said Prashant Warier, CEO and founder of Qure.

In 2020, the startup raised US$16 million in a round led by Sequoia India.

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