The funding will finance the company’s investment in foundational AI models and its acquisition of complementary med-tech companies. Credit: greenbutterfly / Shutterstock.

Indian healthcare technology company Qure.ai has raised $65m in a Series D financing round to fund its expansion into the US and other regions.

The company will also use the funding to invest in its foundational AI models and acquire complementary medical technology companies.

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Lightspeed and 360One Asset led the financing round, which also saw participation from new strategic and financial investors such as Merck Global Health Innovation Fund and Kae Capital.

Existing investors such as Novo Holdings, Health Quad and TeamFund also contributed to the round.

Established in 2016, Qure.ai focuses on making healthcare more accessible and equitable worldwide.

The company’s AI solutions are currently in use at more than 3,000 sites across more than 90 countries for the identification and management of critical diseases.

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Qure.ai currently has 18 indications cleared by the US Food and Drug Administration (FDA), while its products are certified as Class IIb under the EU’s Medical Device Regulation (MDR).

Qure.ai co-founder and CEO Prashant Warier said: “Qure.ai has become a trusted medical imaging AI partner to hospitals and healthcare organisations around the world.

“Our work is helping to unlock clinical efficiencies and drive up the standard of care delivered to patients in the focus areas of tuberculosis, lung cancer and stroke.

“AI helps to overcome healthcare bottlenecks, from imaging reporting backlogs and low screening uptakes to workforce resource constraints, not just in western societies like the US and Europe, but in developing nations too.

“We also collaborate with half of the top 20 pharmaceutical and medical technology companies, including AstraZeneca, Medtronic and J&J, to accelerate the early diagnosis and timely treatment of diseases.”

Last year, Qure.ai and AI platform provider Blackford partnered to implement an AI-driven neurocritical solution at Milton Keynes University Hospital NHS Foundation Trust.