Indian healthcare AI startup Qure.AI aiming for IPO in two years, CEO says
Qure.AI, an India-based startup providing artificial intelligence tools to healthcare firms, is aiming to turn profitable in the next financial year and for an initial public offer (IPO) in two years, its CEO told Reuters.
The company, founded in 2016 and largely backed by AI firm Fractal Analytics, counts Peak XV Partners and Novo Nordisk's Novo Holdings among its investors, and has raised $125 million in funding so far, CEO Prashant Warier said.
"We look to break even and be profitable next financial year. As we sort of get to that break-even...we can start planning. And maybe in two-and-a-half years or two years is the earliest we can do an IPO," he said last week.
He declined to elaborate on the firm's valuation. The firm was valued at $264 million as of November 2024, according to data from market intelligence platform Tracxn.
Qure.AI provides AI solutions in diagnostics for early detection of tuberculosis, lung cancer and stroke risks. Its global clients include AstraZeneca, and Medtronic and Johnson and Johnson MedTech in India.
The global market for AI in healthcare, valued at $14.92 billion in 2024, is expected to grow to $110 billion by 2030, according to market estimates.
AI is being rapidly adopted by healthcare service providers around the world for early detection of diseases and to streamline work for overburdened professionals, according to industry experts.
"We're growing at a rate of 60 per cent-70 per cent every year (in revenue) and I think we probably will accelerate in the next five years," Warier said, adding that they serve around 15 million patients annually.
QureAI derives about 25 per cent of revenue from the United States, which is its largest market, and is also eyeing expansion in the market with further partnerships, he said.
The company also is focusing on on low-and middle-income countries in Latin America and Africa. India, however, is a much smaller market for the firm, contributing less than 5 per cent of revenue.
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CNA
20 minutes ago
- CNA
Why isn't China's defence minister attending Shangri-la Dialogue, and how will it affect Sino-US ties?
SINGAPORE: China's decision not to send its defence minister Dong Jun to this year's Shangri-La security dialogue (SLD) in Singapore reflects a deliberate decision on Beijing's part to withhold ministerial-level participation amid fraught geopolitical conditions, analysts told CNA. In a statement issued on Thursday (May 29), a day before the forum's official opening, China's Ministry of National Defense said a delegation from the People's Liberation Army's National Defense University would attend in Dong's place, without providing details on who would be leading it. The delegation 'will have in-depth exchanges with different parties to build more consensus', said ministry spokesman Zhang Xiaogang, who did not address why Dong would not be attending or whether the Chinese team would meet with US counterparts. This will be the first time since 2019 that China will not be represented by its defence minister at the annual security summit, a key platform where Beijing's positions on flashpoints like Taiwan and the South China Sea have drawn intense international scrutiny over the years. 'Past records show that the level of China's delegation is closely linked to the international climate and perceived external pressures,' said Lim Tai Wei, an East Asian affairs observer and professor at Soka University in Japan. With US President Donald Trump back in power, analysts who spoke to CNA believe that Beijing may see limited strategic benefit in sending its top defence ministry official to the annual event, particularly with newly appointed US Defense Secretary Pete Hegseth slated to be in attendance. Without ministerial-level attendance, Beijing will also forgo the opportunity to hold high-level bilateral meetings with direct counterparts in countries like the US, experts added. CONTROLLING THE NARRATIVE Beijing's decision to forgo high-level ministerial representation might also be related to unfavourable optics, Lim said, especially in environments where Washington and Western counterparts may seek to frame the dialogue in more performative terms. 'China operates within a high-context political culture, where atmospherics, non-verbal cues, and the overall tone of engagement carry significant weight,' Lim said. 'There tends to be a preference for controlled settings and predictability,' Lim added. 'In a fluid international environment, where developments can shift quickly, this may have contributed to the decision not to send a senior-level delegation this year.' Benjamin Ho, an assistant professor at the China Programme of the S Rajaratnam School of International Studies (RSIS) in Singapore, noted that China has historically sent its defence ministers to the annual summit when 'global conditions were right' for talks with counterparts - especially those from the US. US-China relations have rapidly deteriorated, particularly with renewed tariff disputes, trade tensions and Trump's decision to clamp down on Harvard's Chinese international students. Against this current backdrop, there has been 'little strategic reason' for Beijing to send a ministerial-level delegation to the SLD, Ho added. 'Last year, (then-US Defense Secretary Lloyd Austin) reiterated the idea that when US-China relations are not good, (both sides) should meet and talk,' Ho said. 'But for China, it's quite different. For Beijing, if relations are not good, there is no need for the military to meet and talk.' 'Beijing only talks when political conditions are correct so I think (they) are operating from a very different kind of paradigm.' Lin Ying-yu, an assistant professor at the Graduate Institute of International Affairs and Strategic Studies at Tamkang University in Taiwan, said Beijing's hesitation may reflect internal uncertainty about how to manage defence diplomacy under Trump's second term. 'China has yet to settle on a clear approach to engaging the US,' he said. 'At present, (President) Xi Jinping has not had direct or formal dialogue with Trump since his return to office so I think China has not finalised its position on how to handle relations with the US under this new term.' Sending a lower-level delegation would be a way for Beijing to test the waters, Lin added. 'This is a way for China to first observe how the US responds in the security and defence space, before deciding what kind of posture or attitude to adopt going forward.' ALLEGED CORRUPTION PROBE NOT AT PLAY? Dong, a Chinese naval admiral from the People's Liberation Army (PLA), assumed the role of Chinese defence minister in late 2023. His predecessors Wei Fenghe and Li Shangfu were both expelled from the ruling Communist Party and dismissed from their roles over bribes and other 'serious disciplinary violations'. Observers have noted Dong's own brush with the wide-ranging corruption campaign, which has plagued China's military since last year - nine PLA generals and at least four aerospace defence industry executives were removed as a result. Dong's SLD absence has prompted speculation of him being under an alleged disciplinary probe - but defence officials and analysts now caution against drawing direct conclusions, noting his recent travel history and no official comments linking him to misconduct. 'There's been speculation about whether Admiral Dong is in political trouble, but that doesn't ring true,' said Drew Thompson, a former US Department of Defense (DOD) official, in a LinkedIn post shared on Friday, which noted Dong's three-day visit to Berlin in mid-May, where he met with Germany's defence minister and addressed UN officials. Dong also recently held a high-profile meeting with Thailand's Chief of Defense Forces, General Songwit Noonpakdee, in Beijing. Thompson said it signalled that Dong remained active in his official capacity as Chinese defence minister despite his absence from the annual regional forum. Lin said there was no clear connection between the ongoing anti-corruption drive within the PLA and Dong's SLD absence. 'In China, decisions to prosecute senior officials are made at the top levels of the party hierarchy. These are not developments that outsiders can easily interpret or anticipate,' he said. From his assessment of the situation, it also appeared that Dong might have been given clearance to attend the summit in Singapore and may even have intended to go. 'But due to how the optics might play out, they likely opted for a lower-level delegation instead.' 'I don't believe this has anything to do with the current probe inside the PLA,' Lin added. REVERTING TO A PREVIOUS NORM Attended by world leaders and high-ranking government officials from more than 40 countries, as well as academics and business leaders, SLD is widely regarded as the region's most prominent multilateral forum on defence and security. China's attendance and participation is often among the highlights. The US has maintained consistent participation at the highest level, with its defence secretary attending every edition of the forum. By contrast, Beijing has varied its level of representation over the years, observers added. Since 2019, excluding 2020 and 2021 when the forum was cancelled due to the COVID-19 pandemic, China's last three defence ministers, Wei Fenghe, Li Shangfu, and Dong Jun each attended and delivered keynote speeches. But the level of engagement has not always been consistent, analysts noted. China began participating more actively in 2007, initially sending deputy chiefs of the General Staff, including Zhang Qinsheng and Ma Xiaotian, between 2007 and 2010. In 2011, during a period of improved China-US ties following then-President Hu Jintao's visit to Washington, Beijing dispatched its then-defence minister, Liang Guanglie, to the forum for the first time. But it lowered its profile the following year, sending Ren Haiquan, then vice president of the Academy of Military Sciences instead. Between 2013 and 2018, China continued to participate, but again at a sub-ministerial level. Delegation leaders during this period included Deputy Chiefs of the General Staff Qi Jianguo (2013), Wang Guanzhong (2014), and Sun Jianguo (2015 and 2016), as well as He Lei, vice president of the Academy of Military Sciences (2017 and 2018). The presence of Hegseth, an outspoken critic of China, may have been a significant factor in Beijing's decision not to send a defence minister to this year's SLD, analysts said. 'If Dong comes, he is basically coming here to get whacked by Hegseth,' Ho said. 'He is going to repeat very much the same lines, in a way, and if he doesn't repeat the same lines, then it's going to be much more aggressive.' 'For the Chinese, they don't see that the political conditions are right. Having a defence minister coming and saying certain things (in response), which may or may not run in accordance to what the party wants, might create more problems than solutions,' he added. China also has the Xiangshan Forum, its own security forum that's touted as an alternative to Singapore's SLD, Ho added. 'So in a way, they are not losing out because they have their own (security) platforms.' Tamkang University's Lin noted that Beijing favoured settings where it could shape its narrative. The Xiangshan Forum would be a much more comfortable platform for defence engagement as compared to the SLD. In his LinkedIn post, Thompson said Dong's absence could reflect deeper dissatisfaction with the nature of the SLD itself. 'I surmise Dong Jun's absence is a signal of frustration with the dialogue itself. They've never liked it, which is why they started the Xiangshan Forum,' said Thomson. He also recalled a past exchange. 'My PLA counterpart once explained what they didn't like. He said: 'We don't like being made out to be gladiators fighting one another for others' entertainment. We want to deal with our differences bilaterally, in channels, not in public forums.'' 'Beijing always wants to control the narrative and discourse. Shangri-La does not enable that. Xiangshan Forum does,' Thompson said. ABSENCE WITH A COST SLD remains one of the rare global venues which sees senior Chinese defence officials field direct questions from foreign counterparts, scholars and journalists - offering a rare window into Beijing's strategic posture. The presence of China's defence minister also enables other countries to engage Beijing in bilateral meetings on the sidelines of the forum. This year however, that opportunity will be missing, experts said. Dong's absence will be an 'opportunity loss' for Beijing, Ho said, noting that the decision likely reflects a calculated trade-off. 'They probably made a calculation to the extent that their strategic interest obviously outweighs the fact that they are absent … that the fact they can preserve their interest without being at the forum is something that probably swung the decision not to come,' he said. Ho pointed out that ministerial meetings can still happen through other channels. 'One could say that maybe the Chinese would find other avenues to meet the Americans, and not necessarily at the SLD. And I think vice versa - Americans will probably shrug and say, 'Okay, it's an opportunity loss, but we'll find other ways to meet the Chinese, assuming that's what they want to do.'' Thompson said that both Beijing and Washington still had pre existing bilateral mechanisms. 'Beijing knows how to engage Washington and does not need third countries to facilitate. If political conditions are right, the PLA will meet with the DOD,' he said. The overall strategic cost of skipping the forum would likely be minimal for Beijing, Lim said, adding that the Chinese defence minister typically served more as a diplomatic envoy than a core decision-maker. 'Take for instance regional players including ASEAN nations - they will be understanding of how China manages its representation,' Lim said. 'They have other avenues to engage with Beijing, and some of these, away from the glare of media and in a bilateral format, would probably be as useful, if not more useful, than a full-scale forum,' Lim said.
CNA
36 minutes ago
- CNA
Having always struggled to make friends at school or work, this is how I started seeking out real connections on my own
I had few friends while growing up. Throughout my schooling years, I felt like an outsider whenever my peers on campus talked animatedly about football or their favourite K-pop idols. I didn't particularly enjoy any of the same activities or interests, so I didn't really know how to have extended conversations with them. Watching my peers interact easily with each other, I always figured I was socially inept. 'Something must be wrong with me,' I thought. For years, loneliness was a constant shadow, looming over me. I did grow more comfortable spending time by myself over time. Eventually, I even found that it was much better to enjoy things alone rather than force myself to be with people whose company I didn't necessarily enjoy. However, I still craved close friendships – people I could have fun and share my innermost thoughts with. The anxiety started intensifying again when I left my teen years behind. Over and over again, I saw former schoolmates continue to keep in touch with each other, hanging out and travelling together and even celebrating their 'friendiversaries' on Instagram. In university, I tried harder to talk to my coursemates. Every time, our conversations usually revolved around homework, examinations or worries about job-hunting. Once the classes we took together ended, so did the motivation to see one another again. It felt like the friendships I had were born simply out of convenience and proximity. I was just going along with the flow, passively interacting in environments that I'd been placed in rather than making conscious decisions to take charge of my social life. THE TURNING POINT Here in Singapore, we spend so much of our waking lives at school or work. The Ministry of Manpower estimates that we spend an average of 43.3 hours working per week. As a student, I typically spent just as long in school or on homework or studying, if not more. It can be isolating when we struggle to find people on our wavelength in these structured social settings. Nearing graduation, it became clear to me that the relationships I had with most of my coursemates wouldn't survive once we diverged on our own separate paths. Most of them had already formed their own cliques; trying to insert myself in these groups felt unrealistic and a bit rude. It dawned on me then that instead of whining about being excluded or left out, perhaps I needed to stop waiting for others to ask me out. I needed to seek out my own social spaces and experiences – or I would simply be stuck at home alone, with no one to blame but myself. I started aggressively and actively looking for things that I liked to do. I spent a lot of time browsing social media and online forums, and found communities that shared my interests, from gothic fashion groups, Singaporean literature lovers to punk rock music fans. Many of these communities have Telegram channels where they post events that invite everyone to join in. I didn't know anyone in these groups, but I pushed myself to go alone and speak to new people I typically wouldn't encounter in school or in the workplace. I also downloaded a dating app that provided the option of making new platonic connections. SETTING THINGS IN MOTION FOR MYSELF The smoking corner of a party venue. In between music sets at a rock concert. Between bookshelves after a poetry recital. Once I started making an effort to place myself in all these different environments by choice, strangers began striking up conversations without me even trying. 'Your hair is really cool! Who is your hairstylist?' they'd say with a smile. I would compliment them back, ask how often they came to such events, and what their hobbies were. We'd laugh, vow to see each other again, and stay in contact through Instagram. Sometimes we would bump into each other at similar gatherings, or text each other to set up more intentional lunch or dinner dates. One of them even offered to help me with a themed photoshoot that I had been wanting to do for a while. After some time, I realised that I was far from socially awkward. I wasn't bad at making new friends – I just needed to try harder to find the right people, in the right environments. For me, this meant people who shared similar interests and could talk extensively about topics I was passionate about. I also discovered that I was much more comfortable conversing with people one-on-one rather than in big groups. Because what I value most is listening to their deepest emotions, thoughts and personal values. This was much more likely to happen in smaller, more intimate settings rather than in larger groups, which is the general format for socialisation that schools tend to promote through orientation camps, class sizes and co-curricular activities. PRIORITISE MEANINGFUL CONNECTIONS My social life is still not as vibrant as I would like it to be. I'm still in the process of building a network of friends I can consistently hang out with and confide in. Sometimes I'd strike up a good conversation with someone at an interest group meeting or activity, but the connection wouldn't last beyond that day. Nevertheless, I still find such fleeting connections more meaningful than many of the friendships I previously formed in school, simply because it was one that I actively sought out. I wasn't obliged or 'instructed' to get along with them, neither by higher authorities nor by circumstance – I was just genuinely interested in them as people. For now, I plan to continue attending a diverse range of events in my spare time, focusing on gaining new experiences and forming authentic connections in-person. I also aim to maintain more of these new friendships by showing more interest in their lives and checking in with them regularly, either to catch up over text or a meal. Once a stronger friendship is established, I also intend to ask them if they'd like to try other activities and experiences together – perhaps even outside of the interest or hobby we originally connected over. MAKE YOUR OWN EFFORT Granted, I'm only 24 years old, so perhaps it can be argued that it's somewhat 'easier' for me to make big changes with my social life. However, it's never too late to find your tribe. Even if you don't have good friendships cultivated from earlier years, or if your close connections have softened or soured, the average life expectancy in Singapore is 83.5 years – whether you're 10, 20 or 30 years older than me, you likely still have decades to seek out people you want to form strong bonds with. In a country of 6 million, there are plenty of people with unique stories to uncover and find inspiration from. If you're not sure where to start, community organisations such as Stranger Conversations and Friendzone offer safe spaces to form new connections through varied activities. If you find it too daunting or tiring to put in the effort to look for people you can vibe with, why not let someone else do it for you? Organisers like Timeleft match you with people they think you might enjoy talking to based on a personalised questionnaire, then arrange for such curated groups to meet up at the same place and time. And if one thing doesn't suit you, find something else and try again. After all, friendships, with all their ups and downs, are a journey – what matters most is to keep going. Eunice Sng is a journalist at CNA TODAY. If you have an experience to share or know someone who wishes to contribute to this series, write to voices [at] with your full name, address and phone number.
Straits Times
an hour ago
- Straits Times
Universities seek to lure US-bound students amid Trump crackdown
Japan's Kyoto University is among the institutions that are considering schemes to accept students from the US. PHOTO: KYOTOU_NEWS/X TOKYO - Universities around the world are seeking to offer refuge for students impacted by US President Donald Trump's crackdown on academic institutions, targeting top talent and a slice of the billions of dollars in academic revenue in the United States. Osaka University, one of the top ranked in Japan, is offering tuition fee waivers, research grants and help with travel arrangements for students and researchers at US institutions who want to transfer. Japan's Kyoto University and Tokyo University are also considering similar schemes, while Hong Kong has instructed its universities to attract top talent from the United States. China's Xi'an Jiaotong University has appealed for students at Harvard, singled out in Mr Trump's crackdown, promising 'streamlined' admissions and 'comprehensive' support. Mr Trump's administration has enacted massive funding cuts for academic research, curbed visas for foreign students - especially those from China - and plans to hike taxes on elite schools. Mr Trump alleges top US universities are cradles of anti-American movements. In a dramatic escalation, his administration last week revoked Harvard's ability to enrol foreign students, a move later blocked by a federal judge. Masaru Ishii, dean of the graduate school of medicine at Osaka University, described the impact on US universities as 'a loss for all of humanity'. Japan aims to ramp up its number of foreign students to 400,000 over the next decade, from around 337,000 currently. Jessica Turner, chief executive of Quacquarelli Symonds, a London-based analytics firm that ranks universities globally, said other leading universities around the world were trying to attract students unsure of going to the United States. Germany, France and Ireland are emerging as particularly attractive alternatives in Europe, she said, while in the Asia-Pacific, New Zealand, Singapore, Hong Kong, South Korea, Japan, and mainland China are rising in profile. Switching schools Chinese students have been particularly targeted in Mr Trump's crackdown, with US Secretary of State Marco Rubio on Wednesday pledging to 'aggressively' crack down on their visas. More than 275,000 Chinese students are enrolled in hundreds of US colleges, providing a major source of revenue for the schools and a crucial pipeline of talent for US technology companies. International students - 54 per cent of them from India and China - contributed more than US$50 billion (S$64 billion) to the US economy in 2023, according to the US Department of Commerce. Mr Trump's crackdown comes at a critical period in the international student application process, as many young people prepare to travel to the US in August to find accommodation and settle in before term starts. Ms Dai, 25, a Chinese student based in Chengdu, had planned to head to the US to complete her master's but is now seriously considering taking up an offer in Britain instead. 'The various policies (by the US government) were a slap in my face,' she said, requesting to be identified only by her surname for privacy reasons. 'I'm thinking about my mental health and it's possible that I indeed change schools.' Students from Britain and the European Union are also now more hesitant to apply to US universities, said Tom Moon, deputy head of consultancy at Oxbridge Applications, which helps students in their university applications. He said many international students currently enrolled at US universities were now contacting the consultancy to discuss transfer options to Canada, the UK and Europe. According to a survey the consultancy ran earlier this week, 54 per cent of its clients said they were now 'less likely' to enrol at an American university than they were at the start of 2025. There has been an uptick in applications to British universities from prospective students in the US, said Universities UK, an organisation that promotes British institutions. It cautioned, however, that it was too early to say whether that translates into more students enrolling. Reputational effects Ella Ricketts, an 18-year-old first year student at Harvard from Canada, said she receives a generous aid package paid for by the school's donors and is concerned that she would not be able to afford other options if forced to transfer. 'Around the time I was applying to schools, the only university across the Atlantic I considered was Oxford... However, I realised that I would not be able to afford the international tuition and there was no sufficient scholarship or financial aid available,' she said. If Harvard's ability to enrol foreign students is revoked, she would most likely apply to the University of Toronto, she said. Analytics firm QS said overall visits to its 'Study in America' online guide have declined by 17.6 per cent in the last year – with interest from India alone down over 50 per cent. 'Measurable impacts on enrolment typically emerge within six to 18 months. Reputational effects, however, often linger far longer, particularly where visa uncertainty and shifting work rights play into perceptions of risk versus return,' said QS' Turner. That reputational risk, and the ensuing brain drain, could be even more damaging for US institutions than the immediate economic hit from students leaving. 'If America turns these brilliant and talented students away, they will find other places to work and study,' said Caleb Thompson, a 20-year-old US student at Harvard, who lives with eight international scholars. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
