Qure.ai, a leading healthcare AI solution provider, has added TEAMFund LP to its series C funding round. With this, Qure.ai joins the Fund I Portfolio Companies of the impact investor fund.
The additional capital supplements the funding secured by Qure.ai earlier this year, in a round led by three leading life science investor companies – Novo Holdings, HealthQuad, and Merck Holdings, and supported by existing investor Mass Mutual Ventures. Other current investors include Sequoia Capital and Fractal Analytics.
TEAMFund believes that improving global healthcare access and quality starts where the need is greatest. The company extensively supports med-tech and digital health startups that are working towards increasing access to sustainable healthcare solutions that can address unmet needs in resource constrained populations. Fund I is especially focused on companies working towards alleviating high-impact healthcare burdens with digital-first solutions.
Yousuf Mazhar, Managing Partner at TEAMFund said “We are very excited to join Qure.ai and an amazing team as they advance their market leading AI technology in multiple imaging applications. Qure’s AI imaging platform has already demonstrated that it can detect multiple anomalies and nodules in the chest which can lead to early identification of lung cancer, which is the most common form of cancer worldwide. In this way alone, Qure can have immense impact worldwide.”
Qure.ai will use the funding to extend and strengthen its global reach and intensify product development for critical care and community diagnostics. Qure.ai’s global health presence has been on a steady growth path. The company’s intervention during the pandemic and the continued efforts to optimise lung health screening in vulnerable communities has been a distinguisher for global health across markets.
Commenting on the funding, Prashant Warier, CEO and Co-founder, Qure.ai said: “TEAMFund’s sharp focus on fashioning a sustainable approach to improving healthcare quality and access aligns with Qure’s mission of making quality healthcare accessible and affordable to all. This fresh infusion of funds strengthens Qure.ai’s position as a global leader in healthcare AI and is a force-multiplier in our effort towards building equitable healthcare solutions for all. Moreover, with regulatory clearances for our products in 75+ countries (including FDA & CE), we are optimally positioned to scale non-linearly across global markets”.
Qure.ai is present in 600+ sites across 60+ countries including UK, US, Southeast Asia, Latin America, Australia and Africa.