MUMBAI — Qure.AI, an India-based startup that offers artificial-intelligence tools to healthcare companies, plans to reach profitability in the next fiscal year. Chief Executive Prashant Warier told Reuters the company will focus first on breaking even before plotting an initial public offering (IPO).
“We want to break even and be profitable in the next fiscal year,” Warier said. “Once we break even, we can start planning. Maybe as early as two and a half or two years from now, we can do an IPO.”
Investment Backing and Valuation
Founded in 2016, Qure.AI is backed primarily by AI firm Fractal Analytics. Other investors include Peak XV Partners and Novo Holdings, part of Denmark’s Novo Nordisk. To date, the startup has raised $125 million.
According to market intelligence platform Tracxn, Qure.AI’s valuation stood at $264 million as of November 2024, though Warier declined to comment on the current figure.
AI Solutions for Early Disease Detection
Qure.AI develops AI-driven diagnostic software for early detection of conditions such as:
Tuberculosis
Lung cancer
Stroke risk
Its global client list includes AstraZeneca, Medtronic, and Johnson & Johnson Medical Technologies in India. The startup’s tools analyze medical images to flag potential issues, helping clinicians diagnose patients faster.
Rapid Revenue Growth
Warier said Qure.AI’s revenue has been growing at an annual rate of 60%–70%. He expects growth to accelerate further over the next five years. Currently, the platform serves about 15 million patients each year.
The United States is Qure.AI’s largest market, accounting for roughly 25% of revenue. The Indian market represents less than 5% of the company’s income.
Market Size and Future Opportunities
Industry estimates project the global healthcare AI market to grow from $14.9 billion in 2024 to $110 billion by 2030. Experts say healthcare providers are rapidly adopting AI to improve early disease detection and lighten clinicians’ workloads.
Expansion into Emerging Markets
Beyond the U.S., Qure.AI is targeting low- and middle-income countries in Latin America and Africa. The company plans further partnerships in these regions to broaden its reach and revenue base.
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