Gabriel Budi Sutrisno · · 1 min readMassMutual, Seeds Capital back SG healthcare firm’s $7.5m round
Qritive, a healthcare startup headquartered in Singapore, has raised US$7.5 million in a funding round led by MassMutual Ventures. Seeds Capital – the investment arm of Enterprise Singapore – and Exfinity Venture Partners also participated in the round.
Qritive co-founders Aneesh Sathe (left) and Kaveh Taghipour / Photo credit: SGInnovate
Founded in 2017, Qritive uses AI-powered solutions to provide interpretations of whole-slide images used in pathology within seconds, which reduces treatment time and increases accuracy for cancer care.
The company, which has a presence in India and the US, will use the fresh funds to bring its operations to other markets, expand its product offerings, and support its efforts to secure regulatory clearances.
See also: Temasek-backed Halodoc enabled sale of restricted drugs
According to Qritive, 70% of pathologists are concentrated in only 10 countries, leaving 47% of the world’s population without basic access to diagnostics. This makes the transition to digital pathology even more critical, the company added.
By 2030, Asia will account for nearly half of all cancer cases worldwide, so “speed and accuracy are of utmost importance, especially in the backdrop of a severe pathologist shortage,” said Chinnu Senthilkumar, managing partner at Exfinity Venture Partners.
In 2018, Qritive raised an undisclosed sum from Entrepreneur First.
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
