Qure.ai, a Mumbai-based company, recently raised $65 million in a Series D funding round led by Lightspeed and 360 ONE Asset. The funds will primarily be used to invest in foundational AI models and acquire complementary startups in the medical technology sector. Additionally, Qure.ai plans to use the financial boost to expand its operations in the United States and other markets. Earlier this year, Qure.ai received crucial approvals from the United States Food and Drug Administration for its qSpot-TB, a tuberculosis screening AI solution, and its qXR, an AI-powered chest X-ray software that assists in the detection of lung nodules.
In another development, Mediwhale, a South Korean health diagnostics firm, secured $12 million in a Series A2 funding round led by the Korea Development Bank. Mediwhale is at the forefront of AI application in healthcare, having developed Reti-CVD, the world’s first retina-based solution that uses AI to evaluate the risk of cardiovascular diseases. The company aims to obtain U.S. FDA approval for Reti-CVD by 2025 and plans to subsequently launch the product in the United States. Besides pursuing regulatory approval, Mediwhale is also focusing on enhancing its AI capabilities and developing new solutions for predicting chronic kidney disease risk.
Meanwhile, Huawei has introduced “Medical Technology Digitalization 2.0,” an AI-powered technology for analyzing medical images. This new solution offers features such as smart segmentation, detection, and quantitative analysis with up to 98% accuracy, and claims to reduce disease diagnosis time by 40%. While the specific diseases are not mentioned, the solution’s potential application in speeding up diagnosis processes is significant. Huawei has collaborated with several local medical technology companies to develop this technology, which has already been implemented in some major projects in China.
In the pharmaceutical sector, GI Innovation, a Korean company, is leveraging AI to enhance new drug discovery, particularly in the realm of cancer therapy. GI Innovation has partnered with i-Divine to utilize its AI solution, which is trained on a vast database of over a billion patents, papers, and real-time biological data. This AI has previously analyzed the success potential of 16,000 new drug substances, including some from GI Innovation’s anti-cancer drug pipelines.
Furthermore, in India, MediBuddy is incorporating Philips’ heart health monitoring platform into its mobile health application. This AI-based platform, called HeartPrint, utilizes longitudinal triaging to monitor various biomarkers through a smartphone’s camera. The monitored parameters include cardiovascular age, diabetes risk, and more, providing a comprehensive assessment of a person’s heart health risks and overall cardiovascular condition.
Collectively, these advancements highlight the growing integration of AI in healthcare, from diagnostics and disease monitoring to drug discovery and personalized medicine. The significant investments and partnerships in this field underscore the potential of AI technologies to transform healthcare delivery, improve diagnostic accuracy, and facilitate the development of effective therapeutic solutions.
#Qure.ai #pursuing #large #65M #Series #funding #briefs
