Qure.ai one of the leading health tech firms using Artificial Intelligence (AI) for medical imaging diagnostics, today announced that it has secured US $ 40 million in a funding round led by Novo Holdings and HealthQuad, supported by existing investor MassMutual Ventures. Qure.ai will use the new investment to extend and strengthen its global reach, especially in the US and Europe, and intensify product development for critical care and community diagnostics.

Qure.ai has created a niche for itself with advanced technology that reads and interprets medical images like X-rays, CTs, and Ultrasounds in less than a minute, making equitable and high-quality healthcare a reality across the globe. Qure's AI solutions are FDA-approved, CE-certified, and evaluated by the World Health Organization.

Qure.ai's automated medical imaging tools can shorten the time to diagnosis while enabling physicians to triage medical cases more effectively, especially in time-sensitive situations. This helps healthcare providers identify critical scenarios within minutes — versus hours — to avert fatalities and improve the quality of patient care. In other settings, where adequate, skilled specialists may not be available, Qure's technology is used as the first level of screening for many infections and non-communicable conditions.

Novo Holdings is a world-leading healthcare and life sciences investor with a focus on creating long-term, sustainable value. Headquartered in Copenhagen, with offices in San Francisco, Boston, London and Singapore, Novo Holdings has a portfolio of more than 150 companies.

HealthQuad is India's leading digital health focused venture capital fund with assets under management of USD 200 Mn across two funds. Its focus is to nurture innovative models which radically improve healthcare access and affordability leveraging technology.

Prashant Warier, CEO and Founder, Qure.ai, said: "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. This is a win for all involved in healthcare, especially for patients across the globe who will benefit from vastly improved health outcomes."