<ul><li><keyword id="6327028" type="General" weightage="20" keywordseo="qure-ai" source="Orion">Qure.ai</keyword> has raised $40 million in a round led by Novo Holdings and HealthQuad.</li><li>It will use the latest funding to further strengthen its global reach.</li><li>It reads a patient's X-rays and other scans to detect brain trauma and diagnoses chest diseases.</li></ul>Healthtech startup Qure.ai — a company that uses artificial intelligence for medical image diagnostics — has raised $40 million in a funding round led by Novo Holdings and HealthQuad. MassMutual Ventures also participated in this round. The company will use the latest funding to further strengthen its global reach, especially in the United States of America (USA) and Europe. The company also wants to further intensify product development for critical care and community diagnostics. Founded by Prashant Warrier and Dr. Pooja Rao in 2016, Qure.ai has developed a technology that reads a patient's X-rays and other scans to detect brain trauma and diagnoses chest diseases. The company had also implemented the same technology to detect COVID-19. The company believes that its automated medical imaging tools can shorten the time to diagnosis, while enabling physicians to manage medical cases more effectively. The company had also implemented the<a href="https://www.businessinsider.in/tech/news/a-small-hospital-assam-is-using-ai-to-detect-strokes-in-tea-planters/articleshow/84194042.cms"> same technology in a small hospital in the Tezpur town </a>of Assam to detect strokes and concussions in the region. Strokes are one of the <a href="https://www.hindustantimes.com/health/haemorrhagic-stroke-rate-highest-in-india-s-northeastern-states/story-2A4TFEVpDvE34HAgqMaDLP.html">major causes</a> of death in the Assamese region. About 150 people are affected by strokes in Assam every day and 54,890 on a yearly basis, according to a <a href="https://www.sentinelassam.com/guwahati-city/stroke-affects-54890-every-year-in-assam-gnrc/">study</a> released by a local hospital GNRC in 2018. The company’s chief exec (CEO) Warrier explained that there are two parts to their artificial intelligence (AI)-enabled deep learning solution — the gateway and the application programming interface (API). The gateway are the x-ray machines, the computed tomography (CT) scan machines, ultrasound machines and others that collect the inputs from the healthcare centres and transfer it to the cloud. The API, then, scans, processes and creates a radiology report based on their algorithm. The report is then sent to the patients and the doctors directly. Notably, the company anonymises all the data before sending it from gateway to API to maintain users’ privacy. Qure's AI solutions are FDA-approved, CE-certified, and evaluated by the World Health Organization (WHO). "Every year our technology helps more than four million people across 50 countries. Our goal is to continue being bullish in our market expansion, especially in the US and Europe. We are committed to aiding healthcare professionals in diagnosing illnesses faster and with more detail and accuracy while automating most of the routine work,” Warrier said in a statement. Qure.ai has raised over $60 million to date, according to business intelligence platform Crunchbase. It counts Sequoia Capital India, MassMutual Ventures and Fractal Analytics as investors. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tata-power-icici-bank-aurobindo-pharma-among-stocks-to-watch-out-for-on-march-29/slidelist/90507868.cms">Tata Power, ICICI Bank, Aurobindo Pharma among stocks to watch out for on March 29</a> <a href="https://www.businessinsider.in/personal-finance/news/link-pan-with-aadhaar-before-march-31-to-avoid-any-penalty-or-other-consequences/articleshow/90510078.cms" data-type="tilCustomLink">Three days left to link PAN with Aadhaar to avoid any penalty or other consequences</a> <a href="https://www.businessinsider.in/tech/apps/news/india-might-be-building-a-super-app-for-its-farmers-combining-weather-market-updates-advisories-and-more-in-one-app/articleshow/90509756.cms">India might be building a super app for its farmers, combining weather, market updates, advisories and more in one app</a>

Qure.ai raises $40 million to expand its presence in US and Europe

<ul><li><keyword id="1600133" type="General" weightage="20" keywordseo="fractal" source="Orion">Fractal</keyword> offers artificial intelligence (AI) and analytics solutions to several Fortune 500 firms in the world.</li><li>TPG’s Puneet Bhatia and Vivek Mohan will join <keyword id="1717806" type="General" weightage="20" keywordseo="fractal-analytics" source="Orion">Fractal Analytics</keyword>’ board of directors.</li><li>The company has raised $685 million in fundraise to date.</li></ul>Mumbai and San Francisco-based Fractal has raised $360 million in funding from private equity investors TPG. The investment would be made through TPG’s Asia-focused private equity platform TPG Capital Asia. The 21-year-old company has been valued at over $1 billion after this round, the company’s cofounder and group chief executive (CEO) Srikanth Velamakanni, said. The company has raised $685 million in fundraise to date. The transaction is expected to close by the first quarter of 2022, and includes both primary as well as secondary share purchases. TPG’s Puneet Bhatia and Vivek Mohan will join Fractal Analytics's board of directors. The company’s board currently includes Salesforce’s Gavin Patterson, Apax Partners Rohan Haldea, Apax Partners Shashank Singh and Kae Capital Gulu Mirchandani. It was founded by Indian Institute of Management-Ahmedabad graduates Velamakanni, Pranay Agrawal, Nirmal Palaparthi, Pradeep Suryanarayan and Ramakrishna Reddy. Fractal offers artificial intelligence (AI) and analytics solutions — such as marketing analytics, forecasting, pricing and promotion optimisation services and consumer insights — to several Fortune 500 firms in the world, which typically have a revenue of $10 billion. The company claims to earn $100 million in annual revenue. The company’s offering includes smart radiology solution <keyword id="6327028" type="General" weightage="20" keywordseo="qure-ai" source="Orion">Qure.ai</keyword>, investment aid Theremin.ai and data analytics platform Eugenie.ai, revenue growth management company <keyword id="12887249" type="General" weightage="20" keywordseo="samya-ai" source="Orion">Samya.ai</keyword> and customer management company Senseforth.ai. "We continue to see great momentum in how clients are leveraging AI to accelerate digital transformation. Fractal is building a great workplace and an innovative culture that's driving significant client outcomes through our ‘user focused, decision-backwards’ approach to solving problems," said Srikanth Velamakanni, cofounder, group chief executive officer, Fractal Analytics. It employs over 3,500 individuals across India, Ukraine, UK, US, Australia and Singapore.. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/amazon-backed-good-glamm-group-will-invest-200-crore-in-influencer-marketing/articleshow/88690749.cms" data-type="tilCustomLink">Amazon-backed Good Glamm Group acquires 2 more startups, intends to invest ₹200 crore to boost influencer marketing</a> <a href="https://www.businessinsider.in/business/telecom/news/elon-musks-starlink-faces-its-first-setback-in-india-even-before-launch/articleshow/88702976.cms" data-type="tilCustomLink">Elon Musk’s Starlink faces its first setback in India even before launch</a> <a href="https://www.businessinsider.in/tech/enterprise/news/infosys-is-expected-to-set-the-bar-slightly-higher-for-tcs-hcl-tech-and-others/articleshow/88703083.cms" data-type="tilCustomLink">Infosys is expected to set the bar slightly higher for TCS, HCL Tech and others</a>

AI startup Fractal is now a unicorn after raising $360 million funding from TPG

<ul><li>The <keyword id="9769780" type="UNKNOWN" weightage="20" keywordseo="CB-Insights-Digital-Health-150">CB Insights Digital Health 150</keyword>, which surveyed over 8,000 <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> from across the globe, saw two Indian companies make it to the list – <keyword id="3143174" type="PERSON" weightage="20" keywordseo="PharmEasy">Pharmeasy</keyword>, and <keyword id="6327028" type="UNKNOWN" weightage="20" keywordseo="qure-ai">Qure.ai</keyword>. </li><li>India’s health-tech industry is expected to grow to $372 billion by 2022 and is expected to create 40 million jobs by 2030. </li><li>Qure.ai made headlines recently because of its artificial intelligence-led solutions for fast-tracking COVID-19 high-risk patients.</li></ul>The US-based business analytics platform CB Insights has shared its list of 150 most promising <keyword id="2147060" type="PERSON" weightage="20" keywordseo="digital-health">digital health</keyword> startups in the world. And in the CB Insights Digital Health 150, which analysed over 8,000 startups from across the globe, two Indian companies have made it to the list – Pharmeasy, and Qure.ai. The digital health sector is of prime importance in the current scenario, with the coronavirus pandemic in mind. In this Independence Day speech, Prime Minister Narendra Modi too made a case for digital health with the launch of National Digital Health Mission, which will create a digital health ID for every Indian. India’s health-tech industry is expected to grow to $372 billion by 2022 and is expected to create 40 million jobs by 2030, according to a report by Invest India. The most recent one to join the list has been Amazon, with Amazon Pharmacy's pilot offering of medicines in Bengaluru. Here’s a look at what helped Pharmeasy and Qure.ai secure a place in the CB Insights list. According to <a href="https://www.cbinsights.com/research/report/digital-health-startups-redefining-healthcare/?utm_campaign=marketing_digital-health-150_2020-08&amp;utm_content=137109793&amp;utm_medium=social&amp;utm_source=twitter&amp;hss_channel=tw-110171914">CB Insights</a>, the selected startups were marked based on patent activity, business relations, investor profile, news sentiment analysis, proprietary Mosaic scores, market potential, competitive landscape, team strength, and tech novelty. PharmEasy The Mumbai-based PharmEasy offers medicine delivery and home diagnostic tests across 700 cities in India. According to <a href="https://www.moneycontrol.com/news/business/startup/exclusive-pharmeasy-in-talks-to-acquire-medlife-for-200-million-5571961.html">MoneyControl</a>, the startup was most recently in talks to acquire its rival company Medlife for $200 million, and its revenue for FY19 stood at ₹400 crore. It is one of the most funded Indian health-tech startups with total funding of $294.72 million. The five-year-old startup, co-founded by Dr Dhaval Shah and Dharmil Sheth, was last valued at <a href="https://entrackr.com/2019/11/pharmeasy-secures-4-220-mn-led-by-temasek/">$700 million</a> after it raised $200 million from Temasek. Qure.ai The health-tech platform Qure.ai uses artificial intelligence to fast track medical tests and diagnostics. The startup most recently made headlines for its COVID-19 solution. The startup came up with an AI-led solution which can detect high-risk patients of COVID-19, through chest X-rays and CTs. Its chest X-ray AI tool, qXR is currently being used in 28 countries. Founded by Dr Pooja Rao and Prashant Warrier in 2016, the startup has raised just about $16 million from Sequoia India and MassMutual Ventures Southeast Asia. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-india-foray-into-medicine-delivery-is-in-line-with-its-global-healthcare-bets/articleshow/77537755.cms">Amazon's India foray into medicine delivery is in-line with its global healthcare bets</a> <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-hcl-tech-wipro-and-likes-are-hoping-global-5g-race-resumes-next-year-bringing-some-large-deals-before-that/articleshow/77583638.cms">Tech Mahindra, HCL Tech, Wipro and likes are hoping global 5G race resumes next year⁠ — bringing some large deals before that</a>

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Qure.ai raises $40 million to expand its presence in US and Europe

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AI startup Fractal is now a unicorn after raising $360 million funding from TPG

Kritti Bhalla

These are the two Indian companies to feature in CB Insights 150 most promising digital health startups

Sanchita Dash