(Bloomberg) -- Indian startup Qure.AI raised $65 million from investors led by Lightspeed Venture Partners and 360 ONE Asset Management, gaining funds to expand and develop its products that use artificial intelligence to help detect diseases.
Merck & Co.’s Merck Global Health Innovation Fund and Kae Capital joined the Series D round, along with existing investors including Novo Holdings, Health Quad, and TeamFund, the startup said Monday in a statement. It plans to use the proceeds to expand in the US and other markets, improve its generative AI foundation models and fund acquisitions.
The Mumbai-based startup’s products use AI to help identify and manage critical diseases at more than 3,000 imaging sites in over 90 countries. The company, founded in 2016, says its solutions outdo human radiologists and physicians in diagnosing conditions like tuberculosis, lung cancer and stroke. Several of its products are cleared for use by US and European Union regulators.
AI is helping overcome health care bottlenecks, said Prashant Warier, Qure.AI’s co-founder and chief executive officer. The technology is increasingly being used in areas such as drug discovery, patient management in hospitals and surgical robots.
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