Qure AI Revenue, Valuation, Funding & Investors

Qure AI is valued at $240M as of June 2024, a 12.6x multiple on its last reported $19M revenue.

Last Qure AI valuation

$240M

Series D · Jun 2024

Last Qure AI funding round

$65M

Series D · Jun 2024

Qure AI revenue

$19M

Series D · Jun 2024

Key investors in Qure AI

  • Novo Holdings
  • HealthQuad
  • Lightspeed Venture Partners
  • Peak XV Partners
  • M Ventures
  • MassMutual Ventures

Qure AI Overview

About Qure AI

Qure AI is a healthtech company deploying deep learning tools for radiology diagnostics. Platforms like qXR detect abnormalities in chest X-rays, head CTs, and brain MRIs, earning FDA clearance and CE marking. Mumbai-based Qure AI partners with GE Healthcare and Siemens Healthineers, processing scans in over 90 countries including integrations at Mayo Clinic and Apollo Hospitals.


Founded

2016

HQ

IndiaMumbai

Website

qure.ai

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$19M (Jun 2024)

Valuation

$240M (Jun 2024)

Qure AI Valuation

Qure AI is currently valued at $240M, based on its Series D in June 2024.

The $65M round was led by 360 ONE Asset and Lightspeed Venture Partners, with participation from Novo Holdings, Merck Global Health Innovation Fund, TEAMFund, HealthQuad and Kae Capital.

Qure AI valuation by funding round

Qure AI valuation by funding round
DateStageValuationRevenue Multiple
Jun 2024Series D$240M12.6x

Qure AI Revenue

Qure AI's latest recorded revenue is $19M, as of its Series D in June 2024. At a $240M valuation, that implies a 12.6x revenue multiple.

Qure AI revenue by funding round

Qure AI revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jun 2024$19M$240M12.6xSeries D

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Qure AI Funding History

Qure AI has raised a total of $121M across 3 funding rounds.

Qure AI's first fundraising round was a $16M undisclosed-stage round in February 2020. The most recent completed round was a $65M Series D in June 2024.

Qure AI funding rounds

Qure AI funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2024Series D360 ONE Asset (lead); Lightspeed Venture Partners (lead); Novo Holdings; Merck Global Health Innovation Fund; TEAMFund; HealthQuad; Kae Capital$65M$240MQure.ai, founded in 2016 and headquartered in Mumbai with offices in New York, London, and Dubai, develops AI-driven solutions for medical imaging diagnostics, analyzing X-rays, CT scans, and ultrasounds to detect critical diseases like TB, lung cancer, and stroke. The company's tools, cleared by the U.S. FDA for 18 indications and certified under EU MDR, are deployed in over 90 countries across 3,000 sites, serving hospitals, healthcare organizations, and pharmaceutical firms including AstraZeneca, Johnson & Johnson, and Viatris for imaging-based research. In September 2024, Qure.ai closed a $65 million Series D funding round (Rs 544 crore) led by Lightspeed Venture Partners and 360 ONE Asset, with participation from Merck Global Health Innovation Fund, Kae Capital, and existing investors Novo Holdings, HealthQuad, and TeamFund. The capital will fund U.S. and global expansion, investment in foundational AI models, and med-tech acquisitions. Qure.ai was valued at close to $240 million earlier in 2024. Previously, it raised $40 million in 2022 led by Novo Holdings and HealthQuad, and $16 million in 2020 led by Sequoia Capital (now Peak XV Partners). Lightspeed and 360 ONE Asset praised Qure.ai's diagnostic accuracy rivaling radiologists, positioning it to address imaging backlogs and resource shortages globally.
Mar 2022Series CHealthQuad (lead); Novo Holdings (lead); M Ventures; MassMutual Ventures$40M-Qure.ai is a leading health tech company specializing in artificial intelligence for medical imaging diagnostics, offering solutions that interpret X-rays, CT scans, ultrasounds, and MRIs in under a minute to enhance accuracy, speed diagnosis, and improve health outcomes globally. Its AI tools are FDA-approved, CE-certified, and evaluated by the World Health Organization, serving over four million people annually across 50 countries at the time of the round. The company has partnerships with entities like the NHS, AstraZeneca, StopTB, and various ministries of health, positioning it as a key player in digital health transformation accelerated by the pandemic. On March 29, 2022, Qure.ai raised $40 million in a funding round led by Novo Holdings and HealthQuad, with participation from existing investor MassMutual Ventures (also listed as Merck in some contexts). This Series C round aimed to accelerate global market expansion, particularly in the US and Europe, and support product development for critical care and community diagnostics applications. HealthQuad, India's leading digital health-focused VC with $200 million in assets under management, and Novo Holdings, a major life sciences investor with over 150 portfolio companies, highlighted Qure.ai's adherence to international standards and potential to improve healthcare access and affordability. Qure.ai's technology disrupts radiology by automating routine tasks for resource-strapped professionals, enabling faster treatment and equitable care. CEO Prashant Warier emphasized commitment to market growth and aiding healthcare professionals with detailed, accurate diagnoses. The investment builds on prior funding, with the company later raising additional rounds, including a Series D led by Lightspeed and 360 ONE Asset. At the time, Qure.ai operated in a competitive AI healthcare sector, focusing on imaging informatics to address global diagnostic challenges. Investors noted its commercial traction through government and pharma collaborations. The funding supports ongoing innovation amid regulatory and market expansion hurdles.
Feb 2020Undisclosed stagePeak XV Partners (lead); MMV Europe & Asia-Pacific$16M-Qure AI raised $16 million in a Series Unknown funding round in February 2020 led by Peak XV Partners. The round aimed to further develop AI technology and expand market presence. Qure AI specializes in artificial intelligence solutions for medical imaging and disease detection in the health-tech sector.

Who has invested in Qure AI?

11 investors have backed Qure AI across its funding rounds, including Novo Holdings, HealthQuad, Lightspeed Venture Partners, Peak XV Partners, M Ventures and MassMutual Ventures.

Lead investors include 360 ONE Asset, Lightspeed Venture Partners, HealthQuad, Novo Holdings and Peak XV Partners.


Qure AI Investors

Investors in Qure AI by funding rounds participated
InvestorHQRoundsRoleFirst check
Novo HoldingsDenmarkCopenhagen2LeadMar 2022
HealthQuadIndiaNew Delhi2LeadMar 2022
M VenturesNetherlandsAmsterdam1ParticipantMar 2022
MMV Europe & Asia-PacificSingaporeSingapore1ParticipantFeb 2020
MassMutual VenturesUnited StatesUnited States1ParticipantMar 2022
Merck Global Health Innovation FundUnited StatesWoodcliff Lake, NJ1ParticipantJun 2024
TEAMFundUnited StatesNew York City, NY1ParticipantJun 2024
Lightspeed Venture PartnersUnited StatesSan Francisco, CA1LeadJun 2024
360 ONE AssetIndiaIndia1LeadJun 2024

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Qure AI Competitors

Qure AI competitors include listed companies like Airdoc and Coveo Solutions, and private ones like Jvion, Lassie, Ubie and ZOE.

Public and private companies comparable to Qure AI
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
JvionUnited StatesAtlanta, GAPrivate--$196M-
LassieUnited StatesSan Francisco, CAPrivate--$250M-
UbieJapanTokyoPrivate--$250M-
ZOEUnited StatesBoston, MAPrivate--$272M-
AirdocChinaChinaPublicly listed$26M($3M)$127M1.5x
Coveo SolutionsCanadaCanadaPublicly listed$148M($25M)$276M1.2x

Qure AI Public Comps

Qure AI is still privately-owned, but its public comps include AInnovation Technology, Infinitt Healthcare, Atrys Health, AIAI Holdings, Healius, Merlin, Abeja, CS Disco, Coveo Solutions and Expert.ai.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
AInnovation Technology$226M($30M)0.7x0.8x(5.7x)(4.6x)
Infinitt Healthcare$75M$27M1.1x-3.2x-
Atrys Health$162M($12M)2.3x2.1x(30.2x)14.9x
AIAI Holdings$272M($194M)1.0x-(1.4x)-
Healius$956M($215M)0.9x0.9x(4.1x)4.8x
Merlin$1M($52M)153.4x23.3x(3.6x)(2.6x)
Abeja$23M$3M7.8x6.4x60.9x-
CS Disco$157M($44M)1.1x1.0x(4.0x)(22.1x)

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Common questions about Qure AI

When was Qure AI founded?Qure AI was founded in 2016.
Where is Qure AI headquartered?Qure AI is headquartered in Mumbai, India.
Is Qure AI publicly listed?No, Qure AI is a private, VC-backed company.
What is Qure AI's valuation?Qure AI was last valued at $240M in its Series D in June 2024.
How much funding has Qure AI raised?Qure AI has raised $121M across 3 funding rounds.
What was Qure AI's last funding round?Qure AI's last funding round was a $65M Series D in June 2024, led by 360 ONE Asset and Lightspeed Venture Partners.
Who are Qure AI's investors?Qure AI's investors include Novo Holdings, HealthQuad, M Ventures, MMV Europe & Asia-Pacific, MassMutual Ventures, Merck Global Health Innovation Fund, TEAMFund, Lightspeed Venture Partners, 360 ONE Asset, Kae Capital and 1 other.
What is Qure AI's revenue?Qure AI's latest recorded revenue is $19M (June 2024).
What is Qure AI's revenue multiple?Qure AI's latest valuation implies a 12.6x revenue multiple ($240M valuation on $19M of revenue).
Which companies are comparable to Qure AI?Companies comparable to Qure AI include Jvion, Lassie, Ubie, ZOE, Airdoc and Coveo Solutions.

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