B2B Focus: Qure.ai Seeks Up to $60 Million for Radiology Innovations

B2B Investment Amid Technological Growth

With rapid digitalisation and automation pushing the growth of the medtech industry, Qure.ai, a Mumbai-based startup in this space, is reportedly seeking to raise around $50-60 million in a funding exercise to be led by Lightspeed. As per ET's report, the infusion will likely include a secondary deal along with existing investors who will be putting in primary capital.

Structure of the Investment

The investment is expected to close by this month once it is finalised, a source was quoted as saying in the report. Lightspeed is investing around $20-25 million and is looking to buy some shares in secondary offerings. Overall, the round may end up being $50-60 million in size depending on the final secondary component.

Innovation and Impact

Founded in 2016 by Pooja Rao and Prashant Warier, Qure.ai uses artificial intelligence assistance for medical imaging diagnostics. Essentially, it uses AI to detect brain trauma, chest diseases, among others. The company claimed that its algorithm can detect clinically relevant abnormal trauma from X-rays, CT Scans, and MRIs in a fraction of the time that doctors typically take.

• Qure.ai is backed by marquee names like Fractal Analytics and Sequoia Capital.
• This investment comes amid a surge in AI adoption in the pharma sector.
• Healthtech companies are increasingly raising capital through secondary funding.

Market Dynamics

For instance, healthtech unicorn Innovaccer was in talks with the US-based health and insurance major Kaiser Permanente to raise funding in the range of $200-$250 million, in a mix of primary and secondary capital. Previously, Qure.ai raised $40 million in a strategic funding round led by Novo Holdings and HealthQuad to expand its global reach, especially across the US and Europe, as well as ramp up product development in critical care and community diagnostics, in March 2022.