The archive · Health & Care · Financial decision · 2016–2024
Qure.ai's AI-radiology bet: $65M Series D, 3,000+ imaging sites in 90 countries
Mumbai-founded Qure.ai bets AI, not radiologists, can screen TB, lung cancer and stroke at scale; $65M Series D closed Sept 2024.
Qure.ai
What the business is
Qure.ai sells AI software that reads medical imaging, chest X-rays and head CTs, to flag and help manage TB, lung cancer, stroke and other critical conditions.
Starting capital：$65M Series D (Sept 2024) led by Lightspeed and 360 ONE, with Merck's Global Health Innovation Fund and Kae Capital; existing investors Novo Holdings, HealthQuad and TeamFund also participated.
How it started
Founded in 2016 in Mumbai by Prashant Warier and team; its imaging AI was deployed across India's public and private health systems before expanding abroad.
What happened
By September 2024, Qure.ai said its products were deployed at more than 3,000 imaging sites across 90+ countries, with 18 FDA-cleared indications and EU Class IIb certification, and partnerships with half of the top-20 pharma and medtech companies including AstraZeneca, Medtronic and J&J. The $65M Series D funds US and Europe expansion, generative-AI foundation models and acquisitions.
How it ended up
Still scaling: the Series D closed in September 2024, and the company's stated goal is to reach a billion patients through its screening and diagnostics software.
Background
Qure.ai's bet is that software can do what scarce radiologists cannot: screen enormous volumes of chest X-rays and head CTs for TB, lung cancer and stroke. Founded in 2016 in Mumbai, the company trained its algorithms on India's high-volume screening programs, where TB is one of the country's biggest diagnostic bottlenecks.
The model proved out: by September 2024 its products were deployed at more than 3,000 imaging sites across 90+ countries, with 18 FDA-cleared indications and EU MDR Class IIb certification. It counts AstraZeneca, Medtronic and J&J among partners and says it works with half of the world's top-20 pharma and medtech companies.
On 23 September 2024, Qure.ai closed a $65M Series D led by Lightspeed and 360 ONE, joined by Merck's Global Health Innovation Fund and Kae Capital, with existing investors Novo Holdings, HealthQuad and TeamFund participating. The capital is earmarked for US and other-market expansion, generative-AI foundation models and acquisitions.
The company remains private and expanding, with headquarters in Mumbai and offices in New York, London and Dubai; its stated mission is to make healthcare more accessible and to reach a billion patients through AI diagnostics.
What has to be true
- Qure attacked the highest-volume, lowest-margin screening workflows (TB, chest X-ray) where human radiologists are scarcest, building an unmatched data and deployment base.
- Regulatory moats compound: 18 FDA-cleared indications and EU MDR certification made each country's approval path shorter.
- Deployment in 90+ countries turned clinical pilots into recurring revenue and partnerships with large pharma and medtech companies.
- The Series D shows investors funding mission-driven diagnostics at scale because the bottleneck in TB, lung cancer and stroke care is measurable.
What can be applied
The winning wedge in healthcare AI is the workflow: solving screening backlogs in high-burden settings first built the data, regulatory evidence and deployment base to go global.
Aftermath
As of September 2024, Qure.ai is scaling: the $65M Series D is being used to expand in the US and other geographies, deepen investment in foundation models, and fund complementary med-tech acquisitions. The company says it is the world's most deployed healthcare AI, with products in 90+ countries and 3,000+ sites, and continues to target TB, lung cancer and stroke. It remains headquartered in Mumbai with regional offices in New York, London and Dubai.
Sources
- Lightspeed leads $65 million round by India AI diagnostics firm
- Qure.ai Gets $65M Series D Funding to Expand Healthcare AI
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