Novo Holdings co-leads €40m Qure.ai financing

Qure.ai said it will use the proceeds from the $40m financing round to intesify product development for  critical care and community diagnostics application and to expand marketing of its medical imaging diagnostics. The funding round was co-led by Novo Holdings and HealthQuad, with existing investor MassMutual Ventures participating.

Qure.ai's automated self-learning medical imaging tools that require only 1 min to evaluate X-ray, CT and ultrasound images can shorten the time to diagnosis while enabling physicians to triage medical cases more effectively, especially in time-sensitive situations. 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.

Existing investors include Fractal analytics and Sequoia Capital.