Total amount raised
$125.3 Million
Latest funding date
6/1/2024
Location
Qure AI has successfully raised funding through four rounds, with the most recent being a Series D round involving seven investors, including 360 ONE Asset and Lightspeed Venture Partners. The company specializes in AI-driven healthcare solutions, focusing on areas such as tuberculosis, lung cancer, and stroke care.
Keep reading to explore the intricacies of Qure AI's fundraising journey and the investors backing this innovative platform.
What Is Qure AI?
Qure AI, founded in 2016, is a healthcare technology company based in Andheri, Maharashtra, India. Specializing in AI-driven healthcare solutions, the company focuses on automated interpretation of radiology exams and ultrasound scans.
Operating in industries such as Artificial Intelligence, Health Care, Health Diagnostics, Machine Learning, and Medical Device, Qure AI has a workforce of 251-500 employees. The company has made a significant impact, with its technology being adopted in over 105 countries and affecting more than 40 million lives.
How Much Funding Has Qure AI Raised?
- Series Unknown
- Amount Raised: USD 16,000,000
- Date: February 2020
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI technology and expand market presence.
- Grant
- Amount Raised: USD 3,200,000
- Date: February 2022
- Lead Investors: SBRI Healthcare
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development in healthcare technology.
- Series C
- Amount Raised: USD 40,000,000
- Date: March 2022
- Lead Investors: HealthQuad, Novo Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster presence in the US and Europe and enhance product development for critical care and community diagnostics.
- Series D
- Amount Raised: USD 65,000,000
- Date: June 2024
- Lead Investors: 360 ONE Asset, Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and development in healthcare technology.
Total Amount Raised: USD 124,200,000. Current Valuation: Not publicly disclosed.
Key Investors
- 360 ONE Asset
- Details: Also known as IIFL Asset Management, 360 ONE Asset is a leading asset management company. They focus on providing a range of investment solutions to clients globally.
- Investment Focus Areas: General asset management across various sectors.
- Notable Investments: Investments in various sectors including technology and healthcare.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a global venture capital firm focusing on early and growth-stage investments. They have a strong presence in the technology and consumer sectors.
- Investment Focus Areas: Technology, consumer, and enterprise sectors.
- Notable Investments: Snap, Grubhub, Affirm.
- HealthQuad
- Details: HealthQuad is a healthcare-focused venture capital fund that invests in innovative healthcare companies. They aim to transform healthcare delivery through technology.
- Investment Focus Areas: Healthcare and life sciences.
- Notable Investments: Medikabazaar, THB (Technology Healthcare Big Data), ImpactGuru.
- Novo Holdings
- Details: Novo Holdings is a leading international life sciences investor. They manage the assets and wealth of the Novo Nordisk Foundation.
- Investment Focus Areas: Life sciences, healthcare, sustainable development.
- Notable Investments: Novozymes, Chr. Hansen, Xellia Pharmaceuticals.
- SBRI Healthcare
- Details: SBRI Healthcare is an initiative that provides funding to develop innovative solutions to healthcare challenges. They focus on supporting small and medium-sized enterprises.
- Investment Focus Areas: Healthcare innovation and technology.
- Notable Investments: Funding for healthcare innovation projects.
What's Next for Qure AI?
Qure AI is poised for significant growth, with opportunities to expand its presence in the US and Europe. The recent $40 million funding round will enable the company to enhance its AI-driven medical imaging diagnostics, making healthcare more accessible and efficient. This expansion is crucial as the demand for faster and more accurate diagnostic tools continues to rise globally.
Future fundraising opportunities appear promising, given the substantial backing from investors like Novo Holdings and HealthQuad. These funds will likely support further technological advancements and market penetration, positioning Qure AI as a leader in the AI healthcare sector. However, the company may face challenges such as navigating regulatory approvals and competing with other AI-driven health tech firms.
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